COMMISSIONER OF INCOME TAX Vs. BHARAT RASAYAN LTD.

JUDGEMENT

(1.) "Whether Tribunal was correct in law in holding that the assessee was entitled to reduce interest paid by it against interest received by it while calculating deduction under s. 80HHC r/w Expln. (baa) of the IT Act -

(2.) AS regards question No. (i), we find that before the Tribunal has answered the issue thus :

(3.) WE find no reason to interfere with the direction given by the Tribunal, which is consistent with the decision rendered by us today in the batch of the appeals of which the present appeal forms part. Needless to add, the AO will proceed in accordance with our judgment. The appeal is accordingly dismissed.