https://www.taxtmi.com/caselaws?id=213032 The High Court clarified that DEPB credit utilized and profit from its sale fall under different sections of the Income Tax Act. Interest income from Fixed Deposit Receipts can be considered business income if pledged for business purposes. The Court emphasized the need to differentiate between profits eligible for deduction under one section and deductions under another. The Tribunal was directed to apply relevant precedents for accurate computation and assessment, ruling in favor of the assessee on all issues presented. en-us Fri, 27 Apr 2012 00:00:00 +0530 Sat, 05 May 2012 12:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=213032 The High Court clarified that DEPB credit utilized and profit from its sale fall under different sections of the Income Tax Act. Interest income from Fixed Deposit Receipts can be considered business income if pledged for business purposes. The Court emphasized the need to differentiate between profits eligible for deduction under one section and deductions under another. The Tribunal was directed to apply relevant precedents for accurate computation and assessment, ruling in favor of the assessee on all issues presented. Case-Laws Income Tax Fri, 27 Apr 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=213032