Sec. 80-IA: In absence of nexus between borrowed funds and investment in FDR, gross interest exp. to

IT: In view of substitution of section 80-IA w.e.f. 1-4-2000, where a newly established undertaking started earning profit after few years, assessee could claim deduction under section 80-IA by treating such subsequent year as initial assessment year; brought forward losses of previous years could not be reduced from eligible profits