https://www.taxtmi.com/caselaws?id=214155 The Punjab and Haryana High Court ruled in favor of the Revenue, holding that the assessee was not eligible for deduction under section 80-I of the Income-tax Act. The Court emphasized that the profits must directly relate to the industrial undertaking to qualify for the deduction, citing the Supreme Court's decision in Sterling Foods' case. Previous judgments cited by the assessee were deemed irrelevant. The Court concluded that the issue had been conclusively settled against the assessee based on precedent, and the reference was disposed of in favor of the Revenue. en-us Wed, 18 Aug 2010 00:00:00 +0530 Tue, 19 Jun 2012 08:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=214155 The Punjab and Haryana High Court ruled in favor of the Revenue, holding that the assessee was not eligible for deduction under section 80-I of the Income-tax Act. The Court emphasized that the profits must directly relate to the industrial undertaking to qualify for the deduction, citing the Supreme Court's decision in Sterling Foods' case. Previous judgments cited by the assessee were deemed irrelevant. The Court concluded that the issue had been conclusively settled against the assessee based on precedent, and the reference was disposed of in favor of the Revenue. Case-Laws Income Tax Wed, 18 Aug 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=214155