In the result appeals of the Assessee and the Revenue are partly allowed
Bench: Smt. Diva Singh & Dr. B.R.R. Kumarassessment Year: 2002-03
disallowing 4/5th of expenses amounting to Rs.5,35,646/- by treating these expenses as expenses covered u/s 35D of Income Tax Act. Revenue has raised the following grounds in ITA No. 575/Chd/2009 for A.Y. 2005- 06: 1. That the Id. CIT(A) has erred in law and facts in directing the A.O. to consider interest income received by the assessee