rng IN IN IN THE HIGH COURT OF JUDICATURE AT BOMBAY THE HIGH COURT OF JUDICATURE AT BOMBAY THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORDINARY ORDINARY ORIGINAL CIVIL JURISDICTION ORIGINAL CIVIL JURISDICTION ORIGINAL CIVIL JURISDICTION INCOME INCOME INCOME TAX APPEAL NO.767 OF 2007 TAX APPEAL NO.767 OF 2007 TAX APPEAL NO.767 OF 2007 M/s Texport Syndicate .. Appellant Vs. Asst.Commissioner of Income Tax 14 (2) Mumbai & anr ..Respondent Mr.S.J.Mehta for Appellant Mr.P.S.Mahadevan for Respondent CORAM CORAM CORAM : : : Dr.S.Radhakrishnan and Dr.S.Radhakrishnan and Dr.S.Radhakrishnan and A.V.Nirgude, A.V.Nirgude, A.V.Nirgude, JJ JJ JJ DATED DATED DATED : : : 14th July, 2008 14th July, 2008 14th July, 2008 P.C. P.C. P.C. 1. Heard learned counsel for the appellant and learned counsel for the respondent. In the above appeal, learned counsel for the appellant pointed out that for Assessment year 1995-1996,1997-1998, 1998-1999, 1999-2000 and also 2001-2002 the tribunal has consistently taken a view that the Assessing Officer has to pass necessary orders considering the issue whether there is a nexus of interest payment with interest receipt and only such amount of interest be netted against the interest received with regard to such an assessee. In view thereof, for all the aforesaid years, the tribunal has remanded back the matter to the Assessing Officer after considering the assessment order passed by C.I.T.(Appeals). Accordingly, in 2 the present matter, we set aside the order passed by the C.I.T.(Appeals) and remand the matter back to the Assessing Officer to hear the appellant and then pass an order afresh after examining the aforesaid issue. Appeal stands allowed. { A.V.Nirgude, J } A.V.Nirgude, J } A.V.Nirgude, J } { Dr.S.Radhakrishnan,J } Dr.S.Radhakrishnan,J } Dr.S.Radhakrishnan,J }