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TMI Blog2015 (5) TMI 481X X X X Extracts X X X X X X X X Extracts X X X X ..... Pradesh High Court in J.P. Tobacco Products (P) Ltd. v. CIT [1996 (8) TMI 29 - MADHYA PRADESH High Court]. The ITAT also noted that the said decision of the Madhya Pradesh High Court was affirmed by the Supreme Court in Joint Commissioner of Income Tax v. Madideep Engineering and Packaging India (P) Ltd. ( 2006 (4) TMI 75 - SUPREME Court). The said decision was confirmed by a previous judgment of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s after seven years for that particular year. - Decided in favour of the assessee. - ITA No. 138/2001 - - - Dated:- 23-4-2015 - S. Ravindra Bhat And R. K. Gauba,JJ. For the Petitioner : Mr N P Sahni, Sr. Standing Counsel Mr Nitin Gulati, Adv. For the Respondents : Ms Kavita Jha Mr Vivek Bansal, Advs. ORDER 1. Vide order dated 24th January, 2002, the following questions of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... at any time before maturity in seven years. The AO inter alia was of the opinion that the deduction under Section 80HH and 80I of the Income Tax Act, 1961 in respect of the new units at Bhawani Mandi and Kathua could be allowed only after reducing the deduction. 3. The AO carried forward the loss for the purpose of Section 80I. He rejected the assessee's contention that under Section 80I, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ing (P) Ltd. (2006) 285 ITR 423 and several other judgments of various High Courts on the issue. 7. This question of law is consequently answered in favour of the assessee and against the Revenue. 8. So far as the second issue is concerned i.e. the admissibility of 1/7th of the premium amount payable on redemption of debentures after seven years, we notice that the issue has been decided for ..... X X X X Extracts X X X X X X X X Extracts X X X X
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