https://www.taxtmi.com/caselaws?id=177096 The appeal was partly allowed. The Tribunal ruled in favor of the assessee on issues related to the computation of Book Profit under section 115JB of the Act and the taxation of interest on deposits. The Tribunal directed the AO to treat interest from fixed deposits as income eligible for deduction under "Profits & gains of business or profession." Additionally, the Tribunal allowed the deduction under section 10A before setting off unabsorbed depreciation and business loss. However, the Tribunal dismissed the grievance regarding charging of interest under section 234B of the Act. en-us Tue, 23 Apr 2013 00:00:00 +0530 Thu, 18 May 2017 10:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=177096 The appeal was partly allowed. The Tribunal ruled in favor of the assessee on issues related to the computation of Book Profit under section 115JB of the Act and the taxation of interest on deposits. The Tribunal directed the AO to treat interest from fixed deposits as income eligible for deduction under "Profits & gains of business or profession." Additionally, the Tribunal allowed the deduction under section 10A before setting off unabsorbed depreciation and business loss. However, the Tribunal dismissed the grievance regarding charging of interest under section 234B of the Act. Case-Laws Income Tax Tue, 23 Apr 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=177096