https://www.taxtmi.com/caselaws?id=242970 The Tribunal upheld the Commissioner (Appeals)'s decision, allowing the deduction under section 80IB for Unit II as a separate industrial undertaking. It directed the apportionment of expenses for Units I and II based on turnover and value of goods manufactured. The Tribunal instructed the treatment of interest receipts and payments in line with Supreme Court principles, permitting the set-off of interest payments against receipts. The Revenue's appeal was dismissed, and the assessee's cross objection was partly allowed, resulting in a favorable outcome for the assessee. en-us Wed, 22 Jan 2014 00:00:00 +0530 Fri, 24 Jan 2014 09:54:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=242970 The Tribunal upheld the Commissioner (Appeals)'s decision, allowing the deduction under section 80IB for Unit II as a separate industrial undertaking. It directed the apportionment of expenses for Units I and II based on turnover and value of goods manufactured. The Tribunal instructed the treatment of interest receipts and payments in line with Supreme Court principles, permitting the set-off of interest payments against receipts. The Revenue's appeal was dismissed, and the assessee's cross objection was partly allowed, resulting in a favorable outcome for the assessee. Case-Laws Income Tax Wed, 22 Jan 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=242970