2011 (5) TMI 219

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....L, MR. JUSTICE AJAY KUMAR MITTAL, JJ. PRESENT: Ms. Urvashi Dhugga, Senior Standing Counsel, for the appellant.   ADARSH KUMAR GOEL, ACJ.   1. This appeal has been preferred by the revenue under Section 260A of the Act, 1961 (in short "the Act") against the order dated 29.1.2010 passed by the Income Tax Appellate Tribunal, Chandigarh Bench "B" (hereinafter referred to as "the Tri....

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....disallowed the claim which was upheld by the CIT(A). On further appeal, the Tribunal upheld the plea of the assessee for exemption holding that interest income was incidental to the business of the assessee of providing credit facilities to its members.   3. We have heard learned counsel for the revenue. None appears for the assessee despite service.   4. Plea on behalf of the reve....