TMI Blog2015 (1) TMI 471X X X X Extracts X X X X X X X X Extracts X X X X ..... taking? Held that:- As decided in Mandideep Eng. & Pkg. India (P) Ltd. case [2006 (4) TMI 75 - SUPREME Court] Section 80 HH and 80 I of the Income Tax Act are independent of each other and, therefore, new industrial undertakings can claim deduction under both the sections on the gross total income independently. This appeal fails and the same is dismissed, answering the issue raised in favou ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tion given under 80 HH for the assessment year 1995-96? 2) Whether on the facts and in the circumstances of the case, the Income Tax Tribunal is right in holding that 80I deduction should be allowed without reducing deduction under 80HH even though interest on TDRs favouring TNPCB were not receipts arising in the course of business nor were the said income derived from the industrial undertakin ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 6 was completed determining a taxable income of ₹ 8,03,97,980/= which was subsequently revised under Section 154 of the Act. Certain incomes derived during the current assessment year and earlier assessment year were not deducted and, thereby excessive deductions were allowed under Section 80 I and 80 IA and, therefore, to withdraw the same, the assessment was reopened under Section 147 by i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... l appearing for the respondent. 6. From a perusal of the order, it is evident that the Tribunal granted the benefit under Section 80 HHC and held that deduction under Section 80I to be made from the gross total income before allowing admissible deduction under 80 HHC. The issue raised in the present case is whether the benefit under Section 80I and 80HH could be taken together or whether the be ..... X X X X Extracts X X X X X X X X Extracts X X X X
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