2006 (7) TMI 199

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ying on the business and is either directly connected with it or incidental to it, loss is allowable – on the issue of deduction u/s 80I notices were issued. - 1531 of 2005 - - - Dated:- 13-7-2006 - SMT. Y. R. MEENA ACTG. C. J. and D. A. MEHTA J. Tanvish U Bhat for the appellant. None for the respondents. JUDGMENT 1. The following questions are proposed for admission of this ap .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... unal has considered this aspect in para 12 of its order, which is reproduced below: "We have heard the learned representatives of the parties, perused the record and gone through decisions cited. The decisions cited by the learned Departmental representative are distinguishable on facts. In both the cases of CIT v. Ambica Mills Ltd. [1999] 236 ITR 921 (Guj) and CIT v. Shri Digvijay Cement .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... allowable. We accordingly allow the claim of the assessee and delete the impugned addition. However, it is pertinent to mention that if any amount received subsequently it is subject to tax as per law. The Assessing Officer is directed accordingly." 3. Therefore, the first question cannot be said as substantial question of law. 4. The appeal is admitted only in respect of question No. 2. .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X