K. Raviraja Pandian, J.

These two appeals relate to the assessment year 2001-2002 preferred against the common order dated 16.03.2007 passed by the Income Tax Appellate Tribunal in two appeals in ITA.No.551/Mds/2005 and ITA.No.674/Mds/2005.

.2. The material facts culled out from the statement of facts, stated in the memorandum of appeal, are as follows:-

.The assessee is a manufacturer of automobile components like air brakes and non Ferrous castings. The assessee company filed its return of income for the assessment year 2001-02 declaring total income of Rs.14,43,44,360/-. The assessee subsequently filed a revised return declaring the total income in a sum of Rs.14,20,68,210/-. The assessee has purchased software to the tune of Rs.47,57,664/- and claimed the same as revenue expenditure. The assessing officer computed it as capital in nature and allowed depreciation. The assessee claimed that the interest income earned on intercorporate deposits, SBI bonds, deposit on margin money and fixed deposits as forming part of business income for computation under section 80HHC of the Income Tax Act. The assessing officer assessed the same under the head "income from other sourc