2011 (5) TMI 219

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..... nior Standing Counsel, for the appellant.   ADARSH KUMAR GOEL, ACJ.   1. This appeal has been preferred by the revenue under Section 260A of the Act, 1961 (in short "the Act") against the order dated 29.1.2010 passed by the Income Tax Appellate Tribunal, Chandigarh Bench "B" (hereinafter referred to as "the Tribunal") in ITA No. 996/Chandi/2009, for the assessment year 2006-07, claimin .....

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..... unal upheld the plea of the assessee for exemption holding that interest income was incidental to the business of the assessee of providing credit facilities to its members.   3. We have heard learned counsel for the revenue. None appears for the assessee despite service.   4. Plea on behalf of the revenue is that interest received by the assessee from commercial banks was not covered .....

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