2015 (4) TMI 1269

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..... pt the interest on income tax is forming part of the profits of the business and not income from other sources - HELD THAT:- Substantial questions of law stands covered by the Judgment of the Apex Court in the case of ACG Associated Capsules Pvt. Ltd. v/s. The Commissioner of Income Tax [ 2012 (2) TMI 101 - Supreme Court] in favour of the Respondent-Assessee and against the Revenue. - Tax Appe .....

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..... tion no. (I) as shown in the order dated 12/10/2007, which reads thus: (I) Whether in the facts and in the circumstances of the case, the ITAT has erred while referring the issue to the file of A.O., to exclude 90% of net interest income excess of interest received or paid provided there is direct nexus between interest earned and paid after establishing the fact that all the interest .....

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