https://www.taxtmi.com/caselaws?id=151283 The Tribunal held that Duty Entitlement Pass Book (DEPB) credits are taxable under section 28(iiib), with only the profit on transfer to be excluded for section 80HHC purposes. Interest income from overdue payments and staff loans should be included in business income, while interest from fixed deposits, bonds, and inter-corporate loans should be treated as income from other sources. The exclusion of interest income for section 80-IB deduction depends on the nexus with interest-bearing funds. The appeals were partly allowed, directing the Assessing Officer to recompute deductions accordingly. en-us Thu, 18 Feb 2010 00:00:00 +0530 Mon, 03 Jun 2013 15:49:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=151283 The Tribunal held that Duty Entitlement Pass Book (DEPB) credits are taxable under section 28(iiib), with only the profit on transfer to be excluded for section 80HHC purposes. Interest income from overdue payments and staff loans should be included in business income, while interest from fixed deposits, bonds, and inter-corporate loans should be treated as income from other sources. The exclusion of interest income for section 80-IB deduction depends on the nexus with interest-bearing funds. The appeals were partly allowed, directing the Assessing Officer to recompute deductions accordingly. Case-Laws Income Tax Thu, 18 Feb 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=151283