Simultaneous Deductions u/s 80IB and S. 80HHC can be Deducted from Net Profit: ITAT follows Supreme Court decision, Allows Appeal

The ITAT has ruled that "simultaneous deductions under Section 80IB and S-80HHC" can be "deducted from net profit," allowing the appeal and following a Supreme Court decision. The tribunal's decision, which is a significant victory for the company, was made on the grounds that the company's claim was not supported by evidence. The ruling clarifies that a tax authority can't add a tax to a company's account without a valid reason.