https://www.taxtmi.com/caselaws?id=119737 The Tribunal upheld the Assessing Officer's decision to disallow the deduction under section 80-IB for interest receipts, classifying them as income from other sources rather than business income. The Tribunal also rejected the assessee's argument to consider net interest income instead of gross interest income and upheld the levy of interest under section 234C. The appeal filed by the assessee was dismissed, affirming the decisions of the AO and CIT(A) on all grounds. en-us Thu, 21 Dec 2006 00:00:00 +0530 Wed, 01 Aug 2012 00:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=119737 The Tribunal upheld the Assessing Officer's decision to disallow the deduction under section 80-IB for interest receipts, classifying them as income from other sources rather than business income. The Tribunal also rejected the assessee's argument to consider net interest income instead of gross interest income and upheld the levy of interest under section 234C. The appeal filed by the assessee was dismissed, affirming the decisions of the AO and CIT(A) on all grounds. Case-Laws Income Tax Thu, 21 Dec 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=119737