2006 (2) TMI 92 - GUJARAT HIGH COURT

Deduction under section 80-I - Industrial Undertaking - "1. What is the effect of dismissal of tax appeal by the High Court holding that no substantial question of law arises? 2. Whether Tribunal was justified in holding that while computing deduction under section 80-I of the Income-tax Act, 1961, interest received from trade debtors towards late payment of sales consideration is required to be excluded from the profits of the industrial undertaking as the same cannot be stated to have been derived from the business of the industrial undertaking?" – no infirmity in tribunal’s order