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TMI Blog2016 (6) TMI 1485X X X X Extracts X X X X X X X X Extracts X X X X ..... - HELD THAT:- This Court in the case of Nirma Ltd. [ 2010 (8) TMI 1184 - GUJARAT HIGH COURT] has held that in computing the special deductions under sections 80-I, 80-IA and 80HH net incomes not derived from industrial undertaking should be excluded and that the Tribunal was right in granting benefit of deduction u/s 80-I of the Act on various incomes such as job work receipt, sale of empty soda ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ITAT) in ITA No. 2191/Ahd/1999 for the Assessment Year 1996-97, the revenue has preferred the present Tax Appeal. 2. This appeal was admitted by this Court on 30.08.2010 for consideration of the following substantial questions of law: 1. Whether on the facts and in the circumstances of the case, the Income Tax Appellate Tribunal was justified in law in directing to exclude only the net income fro ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on account of disallowance of deduction u/s 80I and 80HH of the I.T. Act on fixed deposit interest, transport income and u/s 35AB of the I.T. Act. On appeal before the CIT(A), the CIT(A) partly allowed the claim of the assessee. Being aggrieved by the same, the assessee preferred appeal before the Tribunal. The Tribunal decided the appeal of the assessee as well as the revenue by a consolidated o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 2014) 367 ITR 12 (Guj). He submitted that the Tribunal has rightly answered the issue in favour of the assessee by directing to exclude only the net income from FDR interest, interest on loans, discounting income and transport income. 6. We have adverted to the merits of the rival submissions. This Court in the case of Nirma Ltd. (Supra) has held that in computing the special deductions under sect ..... X X X X Extracts X X X X X X X X Extracts X X X X
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