https://www.taxtmi.com/caselaws?id=342978 The Tribunal dismissed the Revenue's appeal and partly allowed the assessee's cross-objection and appeal for statistical purposes. The Tribunal directed further examination by the AO on the classification of interest income and the nexus between interest paid and earned. The Tribunal upheld the CIT(A)'s decision on the set-off of unabsorbed depreciation, following the interpretation of section 32(2) as amended by the Finance Act 2001 by the Gujarat High Court. en-us Fri, 31 Mar 2017 00:00:00 +0530 Wed, 17 May 2017 11:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=342978 The Tribunal dismissed the Revenue's appeal and partly allowed the assessee's cross-objection and appeal for statistical purposes. The Tribunal directed further examination by the AO on the classification of interest income and the nexus between interest paid and earned. The Tribunal upheld the CIT(A)'s decision on the set-off of unabsorbed depreciation, following the interpretation of section 32(2) as amended by the Finance Act 2001 by the Gujarat High Court. Case-Laws Income Tax Fri, 31 Mar 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=342978