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Issues involved: Assessee's appeals against separate orders of CIT(A) challenging calculation of deduction u/s 80-HHC for A.Y. 2003-04 & 2000-01 regarding interest income and application of section 28(iiid) of the Act.
Summary: The appeals were heard together and disposed of by a consolidated order for convenience. The issue was previously decided in favor of the assessee, but the High Court remitted the case back to ITAT for fresh adjudication. Following this, the ITAT restored the matter to the file of AO for reevaluation. The issues were to be reconsidered in light of relevant judicial authorities, including a decision by the Supreme Court in a related case. Consequently, both assessment years' issues were sent back to the AO for fresh adjudication in accordance with the law. As a result, the assessee's appeals were allowed for statistical purposes. *Order pronounced in open court on 17-02-2012.*
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