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2013 (2) TMI 42 - HC - Income TaxAllocation of interest expenditure between two business of assessee - Whether the Tribunal was right in law in restoring the issue of allocation of interest expenditure and financial charges with the direction to the A.O. to follow the decision of the Special Bench of the Tribunal – Question to be decide - how the principal business of a company is to be ascertained - what is the principal business of a company Held that:- The general proposition that while remanding issues for fresh consideration by the A.O., the Tribunal should be very cautious in issuing directions, even if it is only for the guidance of the A.O. The direction should not give rise to a situation where the assessing authority is likely to feel incommoded by it The A.O. need not be confined to those guidelines only and can travel much beyond them, if the inquiry justifies it and can take into account all the attendant and relevant facts and circumstances of the case, without being confined to those guidelines – In favour of revenue
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