Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2015 (1) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2015 (1) TMI 471 - MADRAS HIGH COURTDeduction under 80I - whether should be allowed on the eligible profits without reducing the deduction given under 80 HH even though interest on TDRs favouring TNPCB were not receipts arising in the course of business nor were the said income derived from the industrial undertaking? Held that:- As decided in Mandideep Eng. & Pkg. India (P) Ltd. case [2006 (4) TMI 75 - SUPREME Court] Section 80 HH and 80 I of the Income Tax Act are independent of each other and, therefore, new industrial undertakings can claim deduction under both the sections on the gross total income independently. This appeal fails and the same is dismissed, answering the issue raised in favour of the assessee and against the department.
|