TMI Blog2015 (2) TMI 848X X X X Extracts X X X X X X X X Extracts X X X X ..... rder of the Assessing Officer or the order of the Commissioner of Income-tax or the order of the learned Tribunal. It appears that at all the three stages this position was not clarified by any of the authorities. Whether the income of ₹ 1,07,29,555 actually arose from deposits integrally connected with the business of growing and manufacture of tea is a pure question of fact. Unless a finding is recorded with regard thereto, it is not possible to answer the question whether that income can be taken into account for the purpose of allowing deduction under section 33AB of the Income-tax Act. Therefore, it appears to us that the adequate attention was not given to the matter when the same was dealt with at different stages. - Decided in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... icity deposits, National Savings Certificates, time deposits, loans to employees, security deposits and so on which are either integrally connected with the business activities of the assessee-company of growing green tea leaves and manufacturing black tea and/or from investment of business funds lying temporarily surplus with the assessee-company, the learned Tribunal was justified in upholding the disallowance of deduction under section 33AB of the Income-tax Act pertaining to the said interest income and the said decision of the learned Tribunal is perverse ? III. Whether the learned Tribunal was justified in upholding the decision of the lower authorities whereby the lower authorities held the consideration of ₹ 1,27 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... did never decide the additional grounds raised by the appellant nor did make any discussion with regard thereto. He submitted that since the pure questions of law are involved with respect to those additional grounds, the said points were permitted to be raised in this appeal at the time of admission. We started hearing of the appeal on the second question indicated above. During the hearing, it transpired that the question for consideration was whether the income of a sum of ₹ 1,07,29,555 on account of interest earned by the assessee from out of deposits is to be included in the income of the assessee from growing and manufacture of tea in order to compute the permissible deduction under section 33AB. He submitted that the aforesa ..... X X X X Extracts X X X X X X X X Extracts X X X X
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