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TMI Blog2014 (12) TMI 551X X X X Extracts X X X X X X X X Extracts X X X X ..... Mr. P. J. Pardiwalla, Senior Advocate with Ms.Vasanti B. Patel ORDER P.C.: 1. After having heard Mr.Pinto, learned counsel appearing for the Revenue, at some length and perusing with his assistance the order passed by the Income Tax Appellate Tribunal dated 27.04.2011 we are of the opinion that the questions of law projected as substantial are not capable of being entertained at all. 2. The ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Tribunal found that the Assessee Bank received interest on refund of taxes paid. It also paid interest on the taxes which were payable. The Assessee sought to set off the interest paid against the interest received and offered the net interest received to tax. We do not see that such findings of the Tribunal are vitiated in law. All that the Tribunal has done earlier and now is that in the case o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sessee claimed that this was business expenditure and this should have been allowed. The Assessee has received the interest of Rs. 1,07,57,930/. It was submitted that the amount of interest paid by the Assessee should have been allowed to be set off against the interest deposited with the Department and taxed in the hands of the Assessee. The argument was that the interest paid to and received fro ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... particularly in paragraphs 47 and 49 referred to an order passed in the case of the Assessee for the Assessment Years 1990-1991 and 1991-1992. In the case of this very Assessee the order passed during the prior assessment year has not been reversed or interfered with by this Court. Similarly, Mr.Pardiwalla has handed over to us a copy of the judgment of this Court in the case of Commissioner of ..... X X X X Extracts X X X X X X X X Extracts X X X X
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