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Interest paid on business loan cannot be netted against interest on fixed deposits
Case Law Details
- Case Name
- Kakinada SEZ Pvt. Ltd. Vs Asst. Commissioner of Income-tax (ITAT Hyderabad)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2008-09
- Courts
- All ITAT, ITAT Hyderabad
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ITAT HYDERABAD BENCH ‘B’
Kakinada SEZ (P.) Ltd.
versus
Assistant Commissioner of Income-tax, Circle 2 (2), Hyderabad
IT Appeal No. 213 (Hyd.) of 2012
[ASSESSMENT YEAR 2008-09]
Date of Pronouncement– 18.01.2013
ORDER
Smt. Asha Vijayaraghavan, Judicial Member
This appeal preferred by the assessee is directed against the order of CIT(A)-III, Hyderabad dated 25/11/2011 for the assessment year 2008-09.
2. The assessee is a company and it was implementing a multi product special economic zone. For the year under consideration, it had filed its return of income on 27/09/2008, showing i...
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