https://www.taxtmi.com/caselaws?id=239386 The Tribunal upheld the decision treating interest income from Fixed Deposits as "income from other sources" for deduction purposes. It allowed netting of interest income against interest expenditure if a nexus exists. Disallowed interest under Section 36(1)(iii) was deleted as asset acquisition was from own funds, not borrowed. Deduction under Section 10AA for trading activities in SEZ was allowed, as "services" include trading. Assessees' appeals for 2006-07 & 2007-08 were partially allowed, while the department's appeals were dismissed. en-us Wed, 08 May 2013 00:00:00 +0530 Wed, 13 Nov 2013 08:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=239386 The Tribunal upheld the decision treating interest income from Fixed Deposits as "income from other sources" for deduction purposes. It allowed netting of interest income against interest expenditure if a nexus exists. Disallowed interest under Section 36(1)(iii) was deleted as asset acquisition was from own funds, not borrowed. Deduction under Section 10AA for trading activities in SEZ was allowed, as "services" include trading. Assessees' appeals for 2006-07 & 2007-08 were partially allowed, while the department's appeals were dismissed. Case-Laws Income Tax Wed, 08 May 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=239386