Thursday, 13 September 2012

S. 80HH & 80-I do not require maintenance of seperate books


S. 80HH & 80-I do not require maintenance of accounts unit wise and deduction can be claimed on the basis of consolidated accounts. To avoid litigation, the assessee should get the working of unit wise net profits certified by the Chartered Accountant.

CIT vs. Bongaigaon Refinery and Petrochemical Ltd (Supreme Court)

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