2011 (7) TMI 1119

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.... the assessee is directed against the order dated 27.9.2007 passed by the ld. CIT(A)-XII for the Assessment Year 1997-98. 2. The assessee has not pressed ground No. 1 therefore it is dismissed as not pressed. 3. The second issue which has been raised in ground No. 2 & 3 is regarding reduction of 90% of interest earned by the assessee from the EEFC account amounting to ₹ 67,80,738/- in comp....

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....rt also held that the interest which has arisen as a result of deposit maintained in the EEFC account can similarly not to be regarded as representing the business income. Respectfully following the decision of the Jurisdictional High Court in the case of CIT vs. Shah Originals (supra), we dismiss the appeal of the assessee on this issue. 4. The next issue raised in ground No. 4 is regarding the ....

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....AO to re-work the relief u/s.80 HHC in respect of ₹ 2,65,804/- on the basis of above direction. 5. The next issue raised in ground No. 5 is regarding exclusion of ₹ 27,26,275/- from the export turnover. Here again, this issue was set aside by the Tribunal to the files of Assessing Officer in ITA 6427/Mum/02 for the A.Y. 97-98 dt.22.12.05 but we do not see any discussion on this aspect....