Held that  on perusal of the profit and loss account, certain expenditure was incurred in connection with the business which was sold were also debited to the profit and loss account. The Assessing Officer as well as the Commissioner (Appeals) had failed to examine the nexus of the-expenditure incurred and the new business stated to have been set up. Therefore, the issue was remitted to the Assessing Officer to decide with reference to the material on record whether the assessee had set up a new business or not. On examination of the material on record, if the Assessing Officer formed an opinion that new business had been set up, the expenditure incurred-during the interval period of setting up of a new business and its commencement of business could be allowed as deduction and could be set off against the interest income earned on fixed deposits by the assessee assessed under the head “Income from the other sources”.(AY. 2014-15)