https://www.taxtmi.com/caselaws?id=62207 The Tribunal upheld the CIT(A)'s decision, treating interest income on fixed deposits as business income for deduction under section 80HHC. It held that the interest accrued on deposits was directly linked to the assessee's business activities, justifying its classification as business income. Additionally, the Tribunal ruled that section 80AB was not applicable to exclude interest income on bank deposits from business income for the assessment year 1983-84. Both the departmental appeal and the assessee's appeal were dismissed as infructuous. en-us Tue, 07 Jul 1992 00:00:00 +0530 Tue, 18 Jan 2011 15:30:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=62207 The Tribunal upheld the CIT(A)'s decision, treating interest income on fixed deposits as business income for deduction under section 80HHC. It held that the interest accrued on deposits was directly linked to the assessee's business activities, justifying its classification as business income. Additionally, the Tribunal ruled that section 80AB was not applicable to exclude interest income on bank deposits from business income for the assessment year 1983-84. Both the departmental appeal and the assessee's appeal were dismissed as infructuous. Case-Laws Income Tax Tue, 07 Jul 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=62207