2015 (7) TMI 514

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....the Honble Sri Justice L.Narasimha Reddy) The respondent is a manufacturer and exporter of drugs and intermediaries and the unit was established in an area declared as Backward. In the income tax returns submitted for the assessment year 1993-94, it claimed deduction under four heads, viz., (a) interest received on letter of credit/margin money, being Rs. 4,35,858/- (b) interest on intercorporat....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....spondent. Though the Assessing Officer disallowed four claims made by the respondent, the Commissioner granted the relief in respect of two, and the relief, as regards remaining two, was granted by the Tribunal. The order passed by the Commissioner granting relief in relation to items (a) and (c) has assumed finality. We are concerned with the grant of relief as regards items (b) and (d). The de....