Deduction under s 80M & Deduction under s 80HHC

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From: CA Saiprasad Bagrecha <saiprasadbagrecha@gmail.com>

Dear All,

Find enclosed text on Deduction under s 80M & Deduction under s 80HHC

http://www.indiantaxhome.com/2011/07/deduction-under-s-80m_28.html

 Actual expenditure made in receiving the dividend is to be deducted for the purpose of calculating the deduction under s 80M and not a notional one based on average calculation, as held by KolHC in Faridabad Investment Company Ltd v CIT — In favour of: The assessee; ITA No 60 of 2004.

  http://www.indiantaxhome.com/2011/07/deduction-under-s-80hhc_28.html

If a deduction under s 80-IA has been taken, a deduction under s 80HHC is not admissible, as held by PHHC in Gupta International v CIT, Karnal — In favour of: The revenue; ITA No 174 of 2011.