2007 (3) TMI 748

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..... owing substantial question of law was framed : "Whether the Income-tax Appellate Tribunal was correct in law in holding that assessee is entitled to reduce interest paid by it from the interest received by it, while calculating deduction under section 80HHC(4A) read with Explanation (baa) of the Income-tax Act, 1961?" 2. Although the appellant had, in its Memorandum of Appeal, raised t .....

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..... ate Tribunal (ITAT) pertained to the netting of interest. In the impugned order dated 30-6-2004, the ITAT has, in paragraph 5, recorded that the "finding of nexus has not been assailed by the Departmental Representative." 4. In that view of the matter no interference is called for with the impugned order of the ITAT and the appeal is accordingly dismissed.
Case laws, Decisions, Judg .....

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