https://www.taxtmi.com/caselaws?id=212523 The court dismissed the appeal, upholding the disallowances by the lower authorities regarding various income claims such as service income, interest on deposits, interest from loans to employees, cash discounts, commission received, compensation for delayed payments, and income from selling imported materials. The court ruled that these incomes did not directly relate to the industrial undertaking as required by Section 80-IB of the Income-tax Act, 1961, thus not qualifying for deduction. The decision favored the Revenue over the assessee. en-us Thu, 10 Nov 2011 00:00:00 +0530 Wed, 21 Nov 2012 13:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=212523 The court dismissed the appeal, upholding the disallowances by the lower authorities regarding various income claims such as service income, interest on deposits, interest from loans to employees, cash discounts, commission received, compensation for delayed payments, and income from selling imported materials. The court ruled that these incomes did not directly relate to the industrial undertaking as required by Section 80-IB of the Income-tax Act, 1961, thus not qualifying for deduction. The decision favored the Revenue over the assessee. Case-Laws Income Tax Thu, 10 Nov 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=212523