https://www.taxtmi.com/caselaws?id=71851 The Tribunal dismissed the appeal, upholding the exclusion of interest income on fixed deposits for deduction under section 80-I of the IT Act, 1961. The decision emphasized that the income was not derived from the industrial undertaking, as required for the deduction. Despite the assessee's arguments and citation of case laws, the Tribunal found no direct nexus between the interest income and the industrial undertaking, affirming the lower authorities' decisions. The appeal was ultimately rejected based on the interpretation of 'derived from' in line with established legal principles and precedents. en-us Tue, 21 Aug 2001 00:00:00 +0530 Wed, 27 Apr 2011 13:57:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=71851 The Tribunal dismissed the appeal, upholding the exclusion of interest income on fixed deposits for deduction under section 80-I of the IT Act, 1961. The decision emphasized that the income was not derived from the industrial undertaking, as required for the deduction. Despite the assessee's arguments and citation of case laws, the Tribunal found no direct nexus between the interest income and the industrial undertaking, affirming the lower authorities' decisions. The appeal was ultimately rejected based on the interpretation of 'derived from' in line with established legal principles and precedents. Case-Laws Income Tax Tue, 21 Aug 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=71851