2007 (1) TMI 569

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....ng sole substantial question of law was framed : "Whether the Income-tax Appellate Tribunal was correct in law in holding that the assessee is entitled to reduce interest paid by it from the interest received by it, while calculating deduction under section 80HHC(1) read with Explanation (baa) of the Income-tax Act, 1961?" 2. From the impugned order of the ITAT it appears that the Asse....