TMI Blog2014 (2) TMI 45X X X X Extracts X X X X X X X X Extracts X X X X ..... see as computed under the heads "Profits and gains of business or profession" is to be deducted under clause (1) of Explanation (baa) to Section 80HHC for determining the profits of business - Decided against Revenue. - TAX APPEAL NO. 213 of 2006 - - - Dated:- 30-11-2013 - M.R. SHAH AND R.P.DHOLARIA, JJ. For the Appellant : Pranav Desai For the Respondent : Mrs. Swati Soparkar JUDGM ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he following substantial question of law. "Whether on facts and circumstances of the case the Income Tax Appellate Tribunal was right in law and on facts in directing the Assessing Officer to recompute the deduction under Sections 80HH, 80-I and 80-IA of the Income Tax Act, 1961 holding that interest is eligible thereon?" 3. Thus, the only question which is required to be considered by th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... terprises Vs. DCIT reported in (89 ITD 25). It is reported that the decision of the Special Bench in the case of Lalsons Enterprises (supra) has been approved by the Hon'ble Supreme Court in the case of ACG Associated Capsules Pvt. Ltd vs. Commissioner of Income Tax reported in (2012) 343 ITR 89(SC). In the case of ACG Associated Capsules (P.) Ltd. (supra) it is held by the Hon'ble Supreme Court i ..... X X X X Extracts X X X X X X X X Extracts X X X X
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