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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 ..... order dated 24th January, 2002, the following questions of law arose for consideration in this appeal:- (i) Whether the Tribunal was justified in holding that deduction under Section 80I is allowable without taking note of the deduction under Section 80HH of the Act? (ii) Whether the Tribunal was justified in allowing 1/7th of the premium amount that was payable on redemption of debentures afte ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... essee's contention that under Section 80I, losses for earlier years could be brought forward and set off in view of the specific provision in Section 80HH (9). 4. The CIT(Appeals) affirmed the Revenue's contention. The ITAT, however, held in favour of the assessee. In respect of the issue of allowability of deduction under Section 80HH and 80I, the ITAT noted the previous decision of the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e that the issue has been decided for the previous year i.e. 1990-91 by the Division Bench of this Court in ITA No. 127 of 2000 on 13th September, 2013 whereby the appeal of the Revenue has been dismissed. 9. We further notice that for other previous years, the Division Bench of this Court had followed the decision in Commissioner of Income Tax vs. Jagatjit Industries Ltd. (2006) 287 ITR 46 (Del) ..... X X X X Extracts X X X X X X X X Extracts X X X X
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