https://www.taxtmi.com/caselaws?id=120316 The Tribunal denied the allowance of interest income on fixed deposits for deduction under section 80-IA, following a decision that such income cannot be considered derived from an industrial undertaking. The Tribunal upheld the allowance of depreciation on fixed assets at the Silvassa Unit, emphasizing its importance in determining true profits and the wear and tear of assets. Ultimately, the Tribunal ruled in favor of the Revenue on the interest income issue and confirmed the allowance of depreciation on fixed assets at the Silvassa Unit. en-us Mon, 19 Dec 2005 00:00:00 +0530 Tue, 31 Jul 2012 23:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=120316 The Tribunal denied the allowance of interest income on fixed deposits for deduction under section 80-IA, following a decision that such income cannot be considered derived from an industrial undertaking. The Tribunal upheld the allowance of depreciation on fixed assets at the Silvassa Unit, emphasizing its importance in determining true profits and the wear and tear of assets. Ultimately, the Tribunal ruled in favor of the Revenue on the interest income issue and confirmed the allowance of depreciation on fixed assets at the Silvassa Unit. Case-Laws Income Tax Mon, 19 Dec 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=120316