2008 (12) TMI 68

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.... court was delivered by ADARSH KUMAR GOEL, J. - The Revenue has preferred this appeal under Section 260A of the Income Tax Act, 1961 (for short, "the Act") against the order dated 25.4.2007 of the Income Tax Appellate Tribunal (ITAT), Chandigarh Bench`B', Chandigarh passed in I.T.A. No. 601/Chandi/2006 for the Assessment Year 2004-05, proposing to raise following substantial questions of law :- ....

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....Act. The Assessing Officer sought to tax interest income received by the assessee from the deposit in the bank. On appeal, the plea of the assessee that the income was exempt under Section 11 of the Act was upheld. The said view has been further affirmed by the Tribunal. 3. We have heard learned counsel for the parties and perused the record. 4. It is not disputed that the interest has been earn....