TMI Blog2018 (10) TMI 1506X X X X Extracts X X X X X X X X Extracts X X X X ..... ed out that it was not a peculiar feature for the assessment year 1992-1993 alone. Confronted with this factual situation, department's representative accepted the same as business receipt. The department had accepted before the Tribunal that the interest and other miscellaneous receipts qualify for deduction under Section 80I of the Income Tax Act, 1961. As the department themselves have tr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Mds/1996, dated 31.12.2007 for the assessment year 1992-1993. 2. This appeal has been admitted on the following substantial question of law vide order dated 10.09.2008: Whether in the facts and circumstances of the case, the Tribunal was right in law in holding that the interest and Miscellaneous receipts are to be considered as income derived from the business for the purpose of deduction ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ess receipts and this feature was not peculiar to this year alone. It was present in the earlier years' also and for those years, they were rightly treated as business receipts. Under the circumstances, the learned D.R. accepted the same as business receipts. To be consistent with the earlier years findings, he also relied that portion of the amounts which were treated as business receipts as ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the Tribunal that the interest and other miscellaneous receipts qualify for deduction under Section 80I of the Income Tax Act, 1961. As the department themselves have treated the same as business receipts for all the previous years and they also accepted for the year under consideration, it should be treated as business receipt. 7.Thus, the Tribunal was fully justified in holding that they do n ..... X X X X Extracts X X X X X X X X Extracts X X X X
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