https://www.taxtmi.com/caselaws?id=207304 Interest income earned on deposits was treated as not forming part of profits derived from the industrial undertaking for section 80IB purposes, while the revised computation excluding that component was accepted and the 100% deduction on eligible industrial profit was upheld. On jurisdiction, the statutory delegation framework under sections 2(7A), 120 and 124 was applied to treat the order authorising the Tax Recovery Officer to act as Assessing Officer as valid, and the assessment was held within jurisdiction. The assessee's challenge to jurisdiction therefore failed, and the substantive deduction claim remained sustained. en-us Thu, 18 Aug 2011 00:00:00 +0530 Mon, 14 Nov 2011 10:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=207304 Interest income earned on deposits was treated as not forming part of profits derived from the industrial undertaking for section 80IB purposes, while the revised computation excluding that component was accepted and the 100% deduction on eligible industrial profit was upheld. On jurisdiction, the statutory delegation framework under sections 2(7A), 120 and 124 was applied to treat the order authorising the Tax Recovery Officer to act as Assessing Officer as valid, and the assessment was held within jurisdiction. The assessee's challenge to jurisdiction therefore failed, and the substantive deduction claim remained sustained. Case-Laws Income Tax Thu, 18 Aug 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=207304