2007 (6) TMI 188

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..... dertaking, is debatable issue and the same cannot be decided vide rectification proceedings u/s 154 – tribunal order that deduction u/s 80HH & 80I cannot be disallowed in rectification, is justified - 787 to 789 of 2007 - - - Dated:- 21-6-2007 - P.D.DINAKARAN and P.P.S.JANARTHANA RAJA JJ. Mr. J. Narayanasamy for the Appellant JUDGMENT The judgment of the court was d .....

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..... ian Chemicals reported in [2003] 262 ITR 278 the interest from deposits while computing the deduction under section 80HH?" 2. The brief facts led to the filing of the above appeals are as under. 3. The assessee filed its return for the assessment years 1991-92 to 1993-94 claiming deduction of interest on deposits in the computation of benefit under Section 80HH and 80I of the Act and th .....

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..... deduction under Sections 80HHC and 80I of the Act was disallowed under Section 154 of the Act, this Court has held that the claim of the assessee could not be disallowed in a proceeding under Section 154 of the Act, especially when the interest income was included in the profit of the business. 5. Applying the ratio laid down in the decision cited supra, we do not find any substantial questio .....

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