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2006 (1) TMI 81 - HC - Income Tax"(i) Whether, on the facts and circumstances of the case and the provisions of sections 158BB(1) and 158BB(1)(c), the learned Tribunal was justified in holding that if the total income in those assessment years in which the return was not filed before the search was conducted, is below the taxable limit after claiming deduction under section 80L of the Act, the income of that year shall not be considered as part of the undisclosed income? (ii) Whether, Tribunal was justified in applying the provisions of section 10(4)(ii), to hold that interest on FDRs, made out of withdrawal from NRE account should also be treated as exempt under the said provision and thereby deleting the addition of Rs. 2,24,213 being interest earned on FDRs?" - interest on the said FDR was exempted under section 10(4)(ii) – both question are answered against the appeallant-revenue
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