https://www.taxtmi.com/caselaws?id=68974 The Tribunal allowed the appeal and upheld the assessee's claim for a deduction under section 80HH of the Income-tax Act, 1961, on the interest earned from fixed deposits. The Tribunal considered the fixed deposits as part of the capital employed in the industrial undertaking, concluding that the interest income should be regarded as derived from the business undertaking. The Tribunal emphasized that even though the interest income was not directly related to the manufacturing of liquor, it still constituted profit or gain derived from the undertaking as a whole. en-us Wed, 14 Dec 1983 00:00:00 +0530 Mon, 04 Apr 2011 12:44:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=68974 The Tribunal allowed the appeal and upheld the assessee's claim for a deduction under section 80HH of the Income-tax Act, 1961, on the interest earned from fixed deposits. The Tribunal considered the fixed deposits as part of the capital employed in the industrial undertaking, concluding that the interest income should be regarded as derived from the business undertaking. The Tribunal emphasized that even though the interest income was not directly related to the manufacturing of liquor, it still constituted profit or gain derived from the undertaking as a whole. Case-Laws Income Tax Wed, 14 Dec 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=68974