2017 (5) TMI 1641

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....Respondent : Mr. Sanjay Jhanwar with Ms. Archana Judgment 1. By way of this appeal, the appellant has assailed the judgment and order of the tribunal whereby tribunal has partly allowed the appeal of the assessee as well as allowed the appeal of the department. 2. The facts of the case are that the appellant company derives income from export of readymade garments. The original return of ....

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....ing quota being the prerequisite for exporting the garments after borrowing funds from the bank on which interest was charged by the bank. That the aforesaid income on account of interest on FDR being intrinsically linked with the carrying on of the business of the appellant, the appellant claimed deduction u/s 80IB of the Act. The Assessing Officer excluded the income of Rs. 33,595/- on account o....