TMI Blog2004 (7) TMI 60X X X X Extracts X X X X X X X X Extracts X X X X ..... antial question of law raised is answered against the appellant/Revenue and accordingly the appeal stands dismissed. - - - - - Dated:- 19-7-2004 - Judge(s) : P. D. DINAKARAN., N. KANNADASAN. JUDGMENT The judgment of the court was delivered by P.D. Dinakaran J.- Heard. The appeal is preferred against the order of the Income-tax Appellate Tribunal, Madras Bench "C", dated April 10, 2001 in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he appeal and directed the Assessing Officer to recompute the deduction under section 80HHC of the Income-tax Act, taking into account the sum of Rs. 2,19,000 being interest received and held to be business income. Aggrieved by the same, the Department filed a further appeal before the Income-tax Appellate Tribunal which was dismissed. Hence, the present appeal by the appellant/Revenue. The subs ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ion 80HHC, as it stood during the relevant assessment year, equated the profits derived from the export of goods with the profits of the business as computed under the head 'Profits and gains of business or profession'. As in this case, the interest which the assessee derived from the bank deposits had been included in the computation and had been assessed under the head 'Profits and gains of busi ..... X X X X Extracts X X X X X X X X Extracts X X X X
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