https://www.taxtmi.com/caselaws?id=235131 The High Court dismissed the appeal, upholding the decision on the deduction of interest on late payment received from debtors under sec. 80IB of the Income Tax Act. The Court ruled against the Revenue on this issue, citing a previous judgment and principles established therein. Additionally, the Court refrained from deciding on the deduction of income from the sale of wastage/scrap due to the tax-effect falling below the specified threshold as per instructions issued by the Central Board of Direct Taxes. en-us Mon, 23 Apr 2012 00:00:00 +0530 Fri, 12 Jul 2013 08:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=235131 The High Court dismissed the appeal, upholding the decision on the deduction of interest on late payment received from debtors under sec. 80IB of the Income Tax Act. The Court ruled against the Revenue on this issue, citing a previous judgment and principles established therein. Additionally, the Court refrained from deciding on the deduction of income from the sale of wastage/scrap due to the tax-effect falling below the specified threshold as per instructions issued by the Central Board of Direct Taxes. Case-Laws Income Tax Mon, 23 Apr 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=235131