Deduction u/s. 80IA not allowable on interest on Margin Money, I-T refund, employee’s loan

ITAT MUMBAI BENCH ‘I’ Essar Power Ltd. versus Additional Commissioner of Income-tax IT Appeal Nos. 5318 & 5725 (Mum.) of 2007 [ASSESSMENT YEAR 2003-04] Date of Pronouncement – 9.11.2012 ORDER Dinesh Kumar Agarwal, Judicial Member  These cross appeals by the assessee and the Revenue are directed against the order dtd. 22-6-2007 passed by the ld. CIT(A) – V, Mumbai for the A.Y. 2003-04. Both these appeals are disposed of by this common order for the sake of convenience. 2. Briefly stated facts of the case are that the A.O. observed that the assessee...