SWARAJ ENGINES LIMITED Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) THE assessee has preferred this appeal under Section 260A of the Income Tax Act, 1961 (for short, "the Act") against the order of Income Tax Appellate Tribunal, Chandigarh Bench dated 11.7.2008 passed in ITA No. 208/Chandi/2006 for the assessment year 1996 -97, proposing to raise following substantial questions of law:

(2.) LEARNED Counsel for the assessee does not press question (i) and with regard to question (ii), he says that matter has been dealt with by the Tribunal in para 9 and his contention was wrongly recorded. His contention was that interest income, if not covered under Section 80 -I was required to be taken into account as income from business or from other sources and was required to be taken into account after making adjustment of the interest paid.

(3.) THE appeal is disposed of.