I.T.A No. 329 of 2007 ::1:: IN THE HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH I.T.A No. 329 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 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 ? ii) Whether in the facts and circumstances of the present case the Hon'ble ITAT was right in holding that at the time of determination of profit of business for the purpose of deduction under section 80 HHC of the Act, that whether the interest component added therein is to be excluded to give effect to the provisions in its true letter and spirit ? I.T.A No. 329 of 2007 ::2:: The above mentioned questions of law have been considered in 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 1997-1998. 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'