TMI Blog2001 (7) TMI 1292X X X X Extracts X X X X X X X X Extracts X X X X ..... evenue has filed this appeal against the order of the Tribunal relating to the asst. yr. 1990-91. 2. The assessee is a partnership concern. It is engaged in the manufacture and export of goods. The assessee claimed benefit under s. 80HHC of the IT Act, 1961, in respect of its income from business which also included an amount of ₹ 32,400 which had been received by way of rent and ₹ ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... income from business. Resultantly, the Tribunal has erred in dismissing the appeal. The claim made on behalf of the Revenue has been controverted by Mr. Ajay Mittal, learned counsel for the assessee. 4. A perusal of the order passed by the Tribunal shows that the assessee had earned interest on the deposit it made with M/s Swami Motors for the purchase of car. Another part of the interest had ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... matter, the Tribunal has concluded that the entire income of the assessee was relatable to the business. Reliance has been placed by the Tribunal on the decision of their Lordships of the Supreme Court in CIT vs. Chugandas Co. (1965) 55 ITR 17(SC) : TC 44R.1224 wherein it was inter alia observed that : business income is broken up under different heads only for the purpose of computation of ..... X X X X Extracts X X X X X X X X Extracts X X X X
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