2003 (11) TMI 23

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... , as to whether the Tribunal was right in law in holding that the income from the sale of scrap is not relatable to the industrial activities of the assessee for the purpose of section 80HH of the Income-tax Act, 1961, and, as to whether it was right in not granting relief under section 80HH of the Act in respect of the amount received from the insurance company for the loss in transit of the raw .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... d 200 metric tonnes of potassium chloride from Canada. While the goods were in transit, the same were lost. In respect of that loss, the assessee has made a claim against the insurance company and received from the insurer the amount in excess of the value of the goods and the expenditure that had been incurred by the assessee in connection with that transportation, the excess amount being Rs. 41, .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... sits made with the Electricity Board for securing supply of electricity for running the industrial undertaking cannot be said to flow directly from the industrial undertaking itself, and was not derived by the undertaking for the purpose of the special deduction under section 80HH of the Act. The principle of that decision applies to the facts of this case as well. The second question is also, an .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X