TMI Blog1998 (11) TMI 23X X X X Extracts X X X X X X X X Extracts X X X X ..... of law has been referred to us: "Whether, on the facts and in the circumstances of the case, the Tribunal was justified in holding that the relief under section 80HH of the Income-tax Act, 1961, computed by the Commissioner of Income-tax in his order under section 263 of the Act was wrong and cancelling the same and thereby restoring the deduction allowed in the order dated February 17, 1987?" ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... undertaking by itself and so the relief under section 80HH computed by the Commissioner under section 263 was wrong. This court in its order in Tax Case No. 1047 of 1987, dated April 28, 1998 (CIT v. Sundaravel Match Industries (P.) Ltd. [2000] 245 ITR 605 considered an identical question and held that deduction under section 80HH is allowable only after setting off the losses and answered the q ..... X X X X Extracts X X X X X X X X Extracts X X X X
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