FD interest deletion; mutuality principle not applicable, set-off against maintenance upheld, surplus disclosed and taxed u/s 143(3) r.w.s.144B

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....The ITAT, adjudicating an appeal against an assessment completed u/s 143(3) r.w.s. 144B, held that interest income on fixed deposits was not excluded by the mutuality principle and had been correctly set off against maintenance expenses by the assessee as previously adjudicated in the assessee's own earlier year. The tribunal found the surplus, after set-off, was disclosed in the return and had been offered to tax; accordingly, the Assessing Officer's addition of the FD interest and the surplus upheld by the CIT(A) were unsustainable. The entire addition in respect of interest income on FDs is deleted and the assessee's grounds are allowed.....