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2018 (10) TMI 1506 - HC - Income TaxDeduction u/s 80I - Income derived from the business for the purpose of deduction - interest and Miscellaneous receipts - Held that:- The income put under the head “other income” was treated as business income for the earlier assessment years also and the Tribunal pointed out that it was not a peculiar feature for the assessment year 1992-1993 alone. Confronted with this factual situation, department's representative accepted the same as business receipt. The department had accepted before the Tribunal that the interest and other miscellaneous receipts qualify for deduction under Section 80I of the Income Tax Act, 1961. As the department themselves have treated the same as business receipts for all the previous years and they also accepted for the year under consideration, it should be treated as business receipt. Thus, the Tribunal was fully justified in holding that they do not want to deviate from the consistency adopted by the Commissioner of Income Tax (Appeals) for the year under consideration as was done for the previous years. No substantial question of law.
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