2024 (10) TMI 768

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....l Kapoor, Adv. Mr. Sumit Lalchandani, Adv. Ms. Ananya Kapoor, Adv. Mr. Ravi Kumar, Adv. Mr. Praveen Swarup, AOR For the Respondent : Mr. N Venkatraman, A.S.G. Mr. Raj Bahadur Yadav, AOR Mr. Ashok Panigrahi, Adv. Mr. Apoorv Kurup, Adv. Ms. Monica Benjamin, Adv. Mr. Tanmay Mehta, Adv ORDER Leave granted. Being aggrieved by the order dated 27.05.2016 passed by the Division Bench of the High Cou....

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....d counsel for the appellant submitted that the impugned Order, which is for the earlier Assessment year, namely, 2009-2010 was not right in holding that the FDs were not being maintained to meet any requirement of the Bank for opening LC or any other business purpose and therefore, the interest income had to be treated as income from other sources. Learned counsel for the appellant submitted that....

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....e treatment to be given to the interest income on the said fixed deposits. It was also submitted at the Bar that the Assessing Officer has not yet given a finding on the remand made by the Appellate Tribunal. In the circumstances, we dispose of this appeal by setting aside the impugned order by remanding the matter to the Assessing Officer for consideration of the issue for Assessment Year 2009-....