I.T.A No. 353 of 2007 ::1:: IN THE HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH I.T.A No. 353 of 2007 Date of decision : September 05, 2008 M/S Vardhman Spinning and General Mills Ltd. ...... Appellant through Mr.Akshay Bhan, Advocate v. Commissioner of Income Tax, Range-I, Ludhiana & another, ...... Respondents CORAM : HON'BLE MR.JUSTICE ADARSH KUMAR GOEL HON'BLE MR.JUSTICE AJAY TEWARI *** 1. Whether Reporters of Local Newspapers may be allowed to see the judgment ? 2. To be referred to the Reporters or not ? 3. Whether the judgment should be reported in the Digest ? *** AJAY TEWARI, J The present appeal proposes the following questions of law:- “ i) Whether the ITAT was justified in excluding the interest income from customers on delayed payments from eligible profits for deduction under section 80 HHC of Income Tax Act, when it formed part appellant's business income as it has been earned during the normal business activity ? ii) Whether in the facts and circumstances of the present case the impugned orders A-1 to A-3 are legally sustainable in the eyes of law ? The above mentioned questions of law have been considered in I.T.A No. 353 of 2007 ::2:: ITA No.340 of 2007 which was filed by the appellant in respect of the assessment year 1994-1995. The present appeal proposes the same questions for the assessment year 1995-1996. The Tribunal has decided the same by following the judgment of this Court in CIT-III, Ludhiana vs M/S Malwa Cotton Spinning Mills Ltd Ludhiana ( ITA No.94 of 2006 decided on 22.12.2006). In view thereof, the proposed questions of law do not arise. Consequently, the present appeal is dismissed with no order as to costs. ( AJAY TEWARI ) JUDGE ( ADARSH KUMAR GOEL ) JUDGE September 05, 2008 'kk'