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2016 (6) TMI 962 - HC - Income TaxDeduction u/s. 80-HH and 80I - whether Tribunal erred in holding that insurance claim received by the appellant-assessee is not income derived from the industrial undertaking of the appellant and consequently, the appellant cannot claim deduction under section 80-HH and 80-I ? - Held that:- So far as the issue under consideration is concerned, it is squarely covered by the decision of Munjal Showa Ltd. vs. Deputy Commissioner of Income-tax [2003 (6) TMI 188 - ITAT DELHI-E ] held Insurance claim was basically a part of repair and maintenance. In fact, it was reimbursement of repair and maintenance expenses incurred by the assessee on behalf of insurance company. Since repair and maintenance incurred by the assessee on behalf of insurance company constituted a part of business expenditure, so insurance claim obviously constituted income derived from the industrial undertaking. - Decided in favour of the assessee
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