Delhi HC rules on interest income from Fixed Deposit Receipts in favor of revenue.

The Delhi HC admitted the case where the assessee did not appear. Two questions of law on interest income from Fixed Deposit Receipts for export performance were framed. The court ruled in favor of the revenue based on precedent.

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The Delhi High Court admitted the case where the assessee did not appear. The court framed two substantial questions of law regarding the treatment of interest income earned on Fixed Deposit Receipts for export performance. The court ruled in favor of the revenue based on a previous decision.

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