2016 (6) TMI 1485

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.... SOPARKAR, ADVOCATE for the Opponent(s) No. 1 ORAL JUDGMENT (PER : HONOURABLE MR.JUSTICE KS JHAVERI) 1. Being aggrieved and dissatisfied with the impugned judgment and order dated 19.09.2008 passed by the Income Tax Appellate Tribunal, Ahmedabad Bench 'A' (hereinafter referred to as ITAT) in ITA No. 2191/Ahd/1999 for the Assessment Year 1996-97, the revenue has preferred the present Tax A....

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....tances of the case, the Tribunal is justified in law in directing to exclude only the net income from FDR interest, interest on loans, discounting income and transport income? 3. The assessment of the assessee was completed on 30.03.1999 on total income of Rs. 16,43,11,720/-. The additions were made by the Assessing Officer on account of disallowance of deduction u/s 80I and 80HH of the I.T. Ac....

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.... law that such incomes are not derived from industrial undertaking. 5. Mr. Soparkar, learned Counsel appearing on behalf of the respondent - assessee has submitted that the questions raised in the present appeal are covered by the decision of this Court rendered in the case of Commissioner of Income - Tax vs. Nirma Ltd. reported in (2014) 367 ITR 12 (Guj). He submitted that the Tribunal has rig....