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TMI Blog2018 (7) TMI 1627X X X X Extracts X X X X X X X X Extracts X X X X ..... derived from any business of an industrial undertaking. The same reasoning would apply to extend deductions under Section 80IA of the Act for the compensation received for non supply of spare parts. Thus, the issue stands concluded in favour of the appellant assessee by the decision of this Court in Jagdishprasad M. Joshi (2008 (11) TMI 326 - BOMBAY HIGH COURT). - Decided in favour of assessee - ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... as right in law in reversing the order of CIT(A) and restoring that of the Respondent No.1 thereby denying the appellant the benefit of Section 80IA of the I.T. Act, in respect of compensation income of ₹ 98,215/? 2. The impugned order of the Tribunal allowed the respondent Revenue's appeal by holding that the appellant would not be entitled to deduction under Section 80IA of the Act ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed Counsel appearing in support of the appeal points out that Pandian Chemicals Ltd. (supra) was rendered in the context of Section 80HH of the Act and we are concerned with Section 80IA of the Act. It is particularly pointed out that there is a difference in the wording of the two sections as existing during the previous year relevant to the subject assessment year. Section 80HH of the Act gr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... with the bank and other interest income are eligible for deduction under Section 80IA of the Income Tax Act, 1961? 6. This Court answered the question in the affirmative while dismissing the Revenue's appeal. This by holding that income earned by the assessee on the fixed deposit from the bank has to be extended deductions under Section 80IA of the Act. In support of the above, this Cour ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lant assessee by the decision of this Court in Jagdishprasad M. Joshi (supra). 7. Mr. Tejveer Singh, learned Counsel for the Revenue is unable to points out why the aforesaid decision in the case of Jagdishprasad M. Joshi (supra) would not apply to the present facts. 8. In the above view, both the questions of law are answered in the negative i.e. in favour of the appellant assessee ..... X X X X Extracts X X X X X X X X Extracts X X X X
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