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2013 (9) TMI 988 - HC - Income TaxDisallowance made on account of premium payable on redemption of debentures - Whether the Tribunal was justified in holding that deduction under Section 80I is allowable without taking note of the deduction under Section 80HH of the Act? - Held that:- Decided against the revenue by an earlier decision in the case of the respondent assessee [2011 (1) TMI 1308 - DELHI HIGH COURT ] following the judgment in Commissioner of Income-Tax v. S.K.G. Engineering P. Ltd. [2005 (5) TMI 37 - DELHI High Court ) and Joint Commissioner of Income Tax v. Mandideep Eng. And Pkg. Ind. Pvt. Ltd.; [2006 (4) TMI 75 - SUPREME Court] - Decided in favour of assessee. Deduction under Section 80HH - ITAT allowed deduction without adjustment of brought forward business loss in respect of Unit No.3 at Bhawani - Held that:- The assessment order is very brief and factual details are not set out. In fact the assessment order refers to the earlier order for the assessment year 1987-88 and records that respondent assessees claim stands rejected. Commissioner of Income Tax (Appeals) did not go into the facts but confirmed the reasoning of the assessing officer in view of the earlier order for the assessment year 1987-88. He has recorded that the respondent assessee had submitted that brought forward losses have been adjusted in the earlier years and there was no brought forward losses which had to be adjusted in the assessment year in question. He had relied upon the decision of CIT v. Balmer Lawrie and Co. Ltd. (1994 (5) TMI 5 - CALCUTTA High Court ). Order of the Tribunal, reversed these orders, in view of their order for the assessment year 1987-88. However, factual matrix has not been discussed.We are not in a position to comment upon and answer question No.2 in view of lack and absence of facts & returned unanswered.
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