2008 (5) TMI 640

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..... hi/2005 relevant for the assessment year 2002-03. 2. The Assessing Officer disallowed an amount of ₹ 70,58,000 being interest liability claimed by the assessee. This view was reversed by the Commissioner of Income-tax (Appeals) [ CIT(A) ]. 3. Feeling aggrieved, the revenue preferred an appeal before the Tribunal which relied upon the instructions issued by the Central Board of Direct T .....

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..... it in the succeeding years, if need arises. 6. Learned counsel for the revenue submits that the tax effect is not required to be seen but the tax effect on the issue involved is to be seen. This is precisely what the Tribunal has done. We do not find any error in the view taken by the Tribunal. 7. No substantial question of law arises. 8. The appeal is dismissed. 9. We make it clear th .....

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