https://www.taxtmi.com/caselaws?id=66378 The Tribunal dismissed the Revenue's appeal, upholding the CIT(A)'s decision to not disallow 90% of the interest received, citing a lack of requirement for a nexus between interest received and interest paid in calculating business profits under section 80HHC. The Tribunal emphasized that its jurisdiction is limited to issues raised in the appeal and that the Revenue could not introduce new factual issues without basis or fresh material. This decision was supported by legal precedents and consistent Tribunal rulings in favor of the assessee. en-us Fri, 30 Dec 2005 00:00:00 +0530 Wed, 18 Jul 2012 13:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=66378 The Tribunal dismissed the Revenue's appeal, upholding the CIT(A)'s decision to not disallow 90% of the interest received, citing a lack of requirement for a nexus between interest received and interest paid in calculating business profits under section 80HHC. The Tribunal emphasized that its jurisdiction is limited to issues raised in the appeal and that the Revenue could not introduce new factual issues without basis or fresh material. This decision was supported by legal precedents and consistent Tribunal rulings in favor of the assessee. Case-Laws Income Tax Fri, 30 Dec 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=66378