Principal of principle of netting applies if sufficient nexus exist between interest received & paid

 HIGH COURT OF DELHI Commissioner of Income-tax Versus UK Bose IT Appeal Nos. 258, 546 & 942 of 2010 November 30, 2012 ORDER R.V. Easwar, J.   The common question of law which arises in all the three appeals by the revenue relates to the assessment of the perquisites in the hands of the respective assessees. In ITA No.942/2010 the substantial question of law is as under:- “(i) Whether the Income Tax Appellate Tribunal was correct in law in deleting the addition of Rs. 7,37,025/- made by the AO on account of perquisites u/s 28(v) of the Act? 2. In ITA No. 546/2010 ...