https://www.taxtmi.com/caselaws?id=271589 The ITAT dismissed the Revenue's appeal and partly allowed the Cross Objections filed by the assessee. It confirmed the allowability of deduction under section 80IC of the Income Tax Act for registration charges related to business activities, specifically those involving the sale of products and literature. However, it upheld the denial of deduction for interest received and miscellaneous income not derived from eligible industrial undertakings. The ITAT also maintained that income from scrap sales was eligible for deduction under section 80IC, citing a previous order, and partly allowed the Cross Objection on this matter. en-us Thu, 10 Dec 2015 00:00:00 +0530 Wed, 10 Feb 2016 08:14:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=271589 The ITAT dismissed the Revenue's appeal and partly allowed the Cross Objections filed by the assessee. It confirmed the allowability of deduction under section 80IC of the Income Tax Act for registration charges related to business activities, specifically those involving the sale of products and literature. However, it upheld the denial of deduction for interest received and miscellaneous income not derived from eligible industrial undertakings. The ITAT also maintained that income from scrap sales was eligible for deduction under section 80IC, citing a previous order, and partly allowed the Cross Objection on this matter. Case-Laws Income Tax Thu, 10 Dec 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=271589