9911796707
TMI Blog2008 (3) TMI 216X X X X Extracts X X X X X X X X Extracts X X X X ..... JJ. Manish R Bhatt, for the Commissioner. JUDGMENT The Judgment of the court was delivered by D. A.MEHTA J. - The Income-tax Appellate Tribunal, Ahmedabad Bench 'A' has referred the following two questions under Section 256(1) of the Income-tax Act, 1961, at the instance of the Revenue: 1. RA No.572/Ahd/1996 A.Y. 1989-90: "Whether the Appellate Tribunal is right in law and on ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... aimed deduction under Sections 80HH and 80I of the Act on gross total income of Rs.62,44,000/-. The Assessing Officer partially disallowed the relief under Section 80I of the Act by first of all computing deduction under Section 80HH of the Act and deducting the same from the figure of profits for the purposes of computing the relief under Section 80I of the Act. The assessee did not succeed in it ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... reasons stated in the judgment rendered on 28.01.2004 in the case of Commissioner of Income-tax Vs. Amod Stamping [2005] 274 ITR 176 (Guj.) as well as in case of Commissioner of Income-tax Vs. Sidhpur Isabgul Processing Co. Ltd., [2001] 252 ITR 777 (Guj.), question No.1 referred in relation to relief under Section 80I of the Act, is answered in the affirmative i.e. in favour of the assess ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lief by holding that the amount of Rs.3,19,850/- is liable to be included in the net profits for the purposes of deduction under Section 80HH of the Act. This finding of Commissioner (Appeals) has been confirmed by the Tribunal. 7. In so far as income received by the assessee from the insurance company is concerned, the Assessing Officer has merely said that the assessee is not eligible for de ..... X X X X Extracts X X X X X X X X Extracts X X X X
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