https://www.taxtmi.com/caselaws?id=64085 The Tribunal ruled on two key issues regarding deductions under section 80-IA of the Income-tax Act. It concluded that interest received from delayed payments by buyers qualifies for deduction, as it is directly linked to business activities. However, the transport subsidy does not qualify, as it is not directly derived from the industrial undertaking. The Revenue's appeal was allowed in part, denying the deduction for the transport subsidy but permitting it for the interest received. The decision was guided by Supreme Court precedents, distinguishing the immediate source of income for eligibility under section 80-IA. en-us Thu, 20 Jan 2005 00:00:00 +0530 Tue, 18 Jun 2024 10:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=64085 The Tribunal ruled on two key issues regarding deductions under section 80-IA of the Income-tax Act. It concluded that interest received from delayed payments by buyers qualifies for deduction, as it is directly linked to business activities. However, the transport subsidy does not qualify, as it is not directly derived from the industrial undertaking. The Revenue's appeal was allowed in part, denying the deduction for the transport subsidy but permitting it for the interest received. The decision was guided by Supreme Court precedents, distinguishing the immediate source of income for eligibility under section 80-IA. Case-Laws Income Tax Thu, 20 Jan 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=64085