2007 (3) TMI 827

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..... ocates. ORDER Admit. The Revenue has raised two issues in this appeal. In so far as the first issue is concerned, it is common ground that a substantial question of law does arise. Therefore, we frame the following substantial question of law:- ?Whether the Income Tax Appellate Tribunal was correct in law in holding that only the net discounting income and not the gross discoun .....

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..... ee to its customers. Consequently, the second issue urged by learned counsel for the Revenue to the effect that interest received on delayed payment of installments made by the customers of the Assessee is chargeable to interest tax does not raise any substantial question of law. To this extent, the appeal is dismissed. The Revenue will file the paper books in accordance with the High Cou .....

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