https://www.taxtmi.com/caselaws?id=117201 The Tribunal held that the interest received by the assessee on the excessive tax refund was exempt under section 80P of the Act as it formed an integral part of the business profits. The Tribunal distinguished between interest on belated tax payments and interest on TDS from securities, ruling that the latter was connected to business activities. As a result, the Tribunal dismissed the Revenue's appeal for one assessment year and allowed the assessee's appeals for other years, confirming the exemption of the interest income. en-us Wed, 04 Dec 2002 00:00:00 +0530 Wed, 01 Aug 2012 00:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=117201 The Tribunal held that the interest received by the assessee on the excessive tax refund was exempt under section 80P of the Act as it formed an integral part of the business profits. The Tribunal distinguished between interest on belated tax payments and interest on TDS from securities, ruling that the latter was connected to business activities. As a result, the Tribunal dismissed the Revenue's appeal for one assessment year and allowed the assessee's appeals for other years, confirming the exemption of the interest income. Case-Laws Income Tax Wed, 04 Dec 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=117201