2011 (7) TMI 1143

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....Maniwadekar ORDER 1. Following questions of law have been raised by the Revenue in this appeal. i) Whether on the facts and in the circumstances of the case and i law, the ITAT did not err in directing the Assessing Officer to allow set off of the 10A unit losses against its business profits ignoring the specific provisions of sub­section (6) of section 10A which provides for set off ....

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.... also when the assessee's business was not in the nature of banking or money­lending ? iv) Whether on the facts and in the circumstances of the case and i law, the ITAT did not err in directing the AO to compute the assessee's interest liabilities under Section 234B and 234C after taking into account DTA tax credit ? v) Whether on the facts and in the circumstances of the case an....

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....ed by the Revenue in the assessee's own case, being Income Tax Appeal No.4278 of 2009 have been rejected by this Court on 11th January 2011. For the reasons stated therein, question (iv) and (v) cannot be entertained. 4. As regards question (iii) is concerned, the finding of fact recorded by the Tribunal is that the assessee had advanced loans to its employees in the ordinary course of busi....