https://www.taxtmi.com/caselaws?id=2377 The court held that interest income from bank investments cannot be treated as income derived from an industrial undertaking for the purpose of claiming a deduction under section 80-I of the Income-tax Act. Additionally, the court ruled that the deduction under section 80-I should not be allowed without deducting the amount permissible under section 32AB of the Act. The court provided detailed analyses and interpretations, ultimately deciding against the assessee's claims in both issues and disposing of the reference accordingly. en-us Mon, 07 May 2007 00:00:00 +0530 Thu, 31 Jul 2008 12:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=2377 The court held that interest income from bank investments cannot be treated as income derived from an industrial undertaking for the purpose of claiming a deduction under section 80-I of the Income-tax Act. Additionally, the court ruled that the deduction under section 80-I should not be allowed without deducting the amount permissible under section 32AB of the Act. The court provided detailed analyses and interpretations, ultimately deciding against the assessee's claims in both issues and disposing of the reference accordingly. Case-Laws Income Tax Mon, 07 May 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=2377