TMI Blog2000 (12) TMI 247X X X X Extracts X X X X X X X X Extracts X X X X ..... o withdraw the appeal. Permission is accordingly granted and the appeal is dismissed. 2. In the result, the appeal is dismissed as withdrawn. Cross objection 3. In the cross objection, the assessee has raised five objections. Objection Nos. 2,3 and 4 have been withdrawn by the learned counsel and objection No. 5 is general in nature and calls for no comments. The only objection No. 1 survive ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rintending Engineerv. B. Subba Reddy AIR [1999] SCW 1479. 6. After hearing both the sides, we overrule the preliminary objection raised by the Revenue in view of the aforesaid judgment of the Supreme Court wherein it has been held as under: "Appeal is substantive right. It is a creation of the statute. Right to appeal does not exist unless it is specifically conferred. Cross-objection is like ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of appeal is extended by one month after service of notice on him of the day fixed for hearing the appeal. This time could also be extended by the court like in appeal. Cross-objection is nothing but an appeal, a cross-appeal at that. It may be that the respondent wanted to give quietus to whole litigation by his accepting the judgment and decree or order even if it was partly against his interest ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... its are made as a commercial expediency, then the interest earned on such F.D.Rs. would be business income on which deduction under section 80-I would be allowable. Following the said decision, we set aside the orders of the CIT(A) on this issue and restore the matter to the file of the Assessing Officer, who shall, after giving reasonable opportunity of being heard to the assessee, determine the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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