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2020 (8) TMI 443 - HC - Income TaxDeduction u/s 80 IA - Exclusion of profits/income derived from wind energy generated and distributed through TNEB in the computation of taxable total income - HELD THAT:- Tribunal in the impugned order discussed the assessee's appeal following the decision of the Special Bench of the Tribunal in the case of ACIT vs. Goldmine Shares and Finance Pvt. Ltd. [2008 (4) TMI 405 - ITAT AHMEDABAD]. It cannot be disputed that the decision in the case of Goldmine Shares and Finance Pvt. Ltd. is no longer good law in the light of the decision of the Division Bench of this Court in the case of Velayudhaswamy Spinning Mills (P) LTD. vs. Assistant Commissioner of Income Tax [2010 (3) TMI 860 - MADRAS HIGH COURT] which has been confirmed by the Hon'ble Supreme Court [2016 (11) TMI 373 - SC ORDER]. Therefore, the Substantial Questions of law have to be answered in favour of the assessee. We do not think that a remand is required in the matter, more particularly, when the assessment is of the year 2006. However, when the Assessing Officer gives effect to the decision of this Court answering the Substantial Questions of law in favour of the assessee, it will be well open to him to proceed in accordance with law. - Decided in favour of assessee.
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