https://www.taxtmi.com/caselaws?id=260460 The court upheld the deduction under section 80IA for excess provision written back and late payment charges as income derived from the eligible business for Assessment Years 2008-09 and 2009-10. However, cross objections related to interest on employees, machine hire charges, rent receipts, and sundry receipts were dismissed as not directly connected to the eligible business. The judgment clarified that only income directly linked to the eligible business qualifies for the deduction, based on the interpretation of legal precedents and the specific nature of each income item. en-us Tue, 03 Mar 2015 00:00:00 +0530 Thu, 20 Aug 2015 15:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=260460 The court upheld the deduction under section 80IA for excess provision written back and late payment charges as income derived from the eligible business for Assessment Years 2008-09 and 2009-10. However, cross objections related to interest on employees, machine hire charges, rent receipts, and sundry receipts were dismissed as not directly connected to the eligible business. The judgment clarified that only income directly linked to the eligible business qualifies for the deduction, based on the interpretation of legal precedents and the specific nature of each income item. Case-Laws Income Tax Tue, 03 Mar 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=260460