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TMI Blog2001 (7) TMI 1292X X X X Extracts X X X X X X X X Extracts X X X X ..... K. Mittal JUDGMENT Jawahar Lal Gupta, J. The Revenue has filed this appeal against the order of the Tribunal relating to the asst. yr. 1990-91. 2. The assessee is a partnership concern. It is engaged in the manufacture and export of goods. The assessee claimed benefit under s. 80HHC of the IT Act, 1961, in respect of its income from business which also included an amount of ₹ 32,400 whi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... st and rent cannot be treated as a part of the income from business. Resultantly, the Tribunal has erred in dismissing the appeal. The claim made on behalf of the Revenue has been controverted by Mr. Ajay Mittal, learned counsel for the assessee. 4. A perusal of the order passed by the Tribunal shows that the assessee had earned interest on the deposit it made with M/s Swami Motors for the purcha ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nd and building'. In this view of the matter, the Tribunal has concluded that the entire income of the assessee was relatable to the business. Reliance has been placed by the Tribunal on the decision of their Lordships of the Supreme Court in CIT vs. Chugandas & Co. (1965) 55 ITR 17(SC) : TC 44R.1224 wherein it was inter alia observed that : "business income is broken up under different ..... X X X X Extracts X X X X X X X X Extracts X X X X
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