TaxTMI 
TaxTMI 
2008 (3) TMI 216
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....abad 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 facts in holding that the assessee is entitled to relief u/s. 80-I of the rate of 20% of the profit without allowing deduction u/s. 80HH ?" 2. RA No.573/Ahd/1996 A.Y. 1....
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....y 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 its appeal before Commissioner (Appeals) and hence, preferred second appeal before the Tribunal. The Tribunal allowed the appeal of the assessee on this count. 4. Mr. M. R. Bhatt, l....
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....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 assessee and against the revenue. 6. In relation to question No.2, the question itself shows that there are two types of interests stated to have been received from bank and insurance company. The Assessing ....
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....firmed 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 deduction under Sections 80HH and 80I of the Act on the income of Rs.19,007/-. In relation to this sum there is no finding either by Commissioner (Appeals) or the Tribunal. 8. Mr. M. R. Bhatt has contended tha....