Law:

Section:

JUDGMENT Ajay Kumar Mittal, J. - This appeal has been preferred by the Revenue under section 260A of the Income-tax Act, 1961 (in short, "the Act"), against the order dated March 23, 2007, annexure A.3, passed by the Income-tax Appellate Tribunal, Chandigarh Bench "A", Chandigarh (in short, "the Tribunal"), in I. T. A. No. 1336/Chandi/2004, for the assessment year 2000-01. On May 12, 2010, the following order was passed by this court : "The Revenue has approached this court by filing the instant appeal under section 260A of the Income-tax Act, 1961, challenging the order dated March 23, 2007, passed in I. T. A. No. 1336/Chandi/ 2004 in respect of the assessment year 2000-01. The Revenue has claimed the following substantial questions of law : "(i) Whether, on the facts and in the circumstances of the case, the hon'ble Income-tax Appellate Tribunal was correct in deleting of disallowance of Rs. 1,42,52,223 made on account of interest relatable to investment in capital work-in-progress ignoring Explanation 8 to section 43(1) of the Income-tax Act, 1961, which requires the interest on borrowed capital to be treated as capital expenditure ? (ii) Whether, on the facts and in the circumstances of the case, the hon'ble Income-tax Appellate Tribunal was correct in deleting of disallowance of interest amounting to Rs. 87,80,214 made under section 36(1)(iii) ? (iii) Whether, on the facts and in the circumstances of the case, the hon'ble Income-tax Appellate Tribunal was correct in law in directing the Assessing Officer to compute the relief under section 80HHC without reducing the deduction eligible under section 80-IA/ 80-IB disregarding the provisions of section 80-IA(9) read with section 80-IB(13) ? (iv) Whether, on the facts and in the circumstances of the case, the hon'ble Income-tax Appellate Tribunal was correct in law in directing the Assessing Officer for not excluding a sum of Rs. 2,10,99,228 from the export turnover for computing the deduction under section 80HHC ? (v) Whether, on the facts and in the circumstances of the case, the hon'ble Income-tax Appellate Tribunal was correct in law in directing the Assessing Officer to compute the indirect costs of the…

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