https://www.taxtmi.com/caselaws?id=255235 The Court allowed the appeal, remanding the matter back to the Tribunal for reconsideration. The Tribunal had excluded interest income from fixed deposits for deduction under Section 80 HHC, citing lack of evidence. The appellant, an export-oriented unit, presented a bank letter showing the deposit's necessity for securing a term loan, qualifying the interest income as business income. The Court emphasized the importance of considering all relevant documents and directed the Tribunal to reevaluate the issue based on the bank's letter, ensuring a fair assessment. en-us Tue, 06 Jan 2015 00:00:00 +0530 Wed, 13 May 2015 18:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=255235 The Court allowed the appeal, remanding the matter back to the Tribunal for reconsideration. The Tribunal had excluded interest income from fixed deposits for deduction under Section 80 HHC, citing lack of evidence. The appellant, an export-oriented unit, presented a bank letter showing the deposit's necessity for securing a term loan, qualifying the interest income as business income. The Court emphasized the importance of considering all relevant documents and directed the Tribunal to reevaluate the issue based on the bank's letter, ensuring a fair assessment. Case-Laws Income Tax Tue, 06 Jan 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=255235