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2015 (1) TMI 434 - HC - Income TaxDeduction u/s 80HHC - Income from fixed deposits in Banks - held that:- as is evident from the order of the Tribunal, the appellant/assessee did not pursue the matter sincerely before the Tribunal, but remained exparte. The appellant/assessee should have appeared before the Tribunal and explained the above position, which he had done before the CIT (Appeals) as is evident from the reasoning as reflected in the order of the CIT (Appeals). However, inspite of a finding by the CIT (Appeals) in his order about the need for deposit to be made for the purpose of availing credit facility, there is no reference to the above letter of the bank in the proceedings of the original authority or the Tribunal, but a reference about that portion of the findings of the CIT (Appeals) is found in the order of the Tribunal. The Tribunal was not in a position to consider this document, in the absence of the assessee/appellant and, therefore, it fell in error in coming to a conclusion that it is not a business income eligible for benefit under Section 80 HHC of the Act. - Matter remanded back - Decide din favour of assesse.
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