2007 (12) TMI 271

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..... e’s business and also whether it formed part of the total business income of the assessee. Held that- the matter has not examined the factual basis, as according to the department it was the case of surplus being invested in FDR while according to assessee it was the case of advance having been received from the exporter which was invested in FDR for short duration. Thus the matter is remitted to .....

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..... sessee is an exporter. Whether the amount received by him which he invested in FDR was in terms of the agreement or contract of export, whether it was a part of the advance or whether it was part of the surplus at the foot of the accounts of the assessee-company. 3. At page 88 of the paper book the Tribunal holds that the interest income was generated by way of keeping the "advances" receive .....

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