2008 (4) TMI 236

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..... Heard learned counsel for the appellant and learned counsel for the respondent. By this appeal, the appellant-revenue is seeking to raise the following substantial questions of law:- "(1) Whether the Income-tax Appellate Tribunal was justified in setting aside the findings of the Commissioner of Income-tax (Appeals) in its order dated 13-11-2002 disallowing a deduction under section 80HH of I....

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....have perused the order of the Income-tax Appellate Tribunal dated 12-7-2004 wherein in paragraph 6 he has come to the conclusion as under:- " We have heard the rival submissions and considered the facts and materials on record including the decisions cited before us. As rightly contended by the learned counsel for the assessee the facts of the case laws relied upon in the assessment order are d....

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....the business of the assessee and thus the interest would have to be included as the profits and gains derived from the business of the assessee and would be entitled to be covered by sec.80HH. Also the Third Member case reported in the case of Kirloskar Electrodyne Ltd. v. Deputy CIT [2003] 87 ITD 264 (Pune); [2004] 271 ITR (AT) 69 (Pune), it has been held that the interest received from customers....