https://www.taxtmi.com/caselaws?id=180458 The tribunal allowed the appeal, overturning the CIT(A)'s decision regarding the estimation of NP rate at 7% and directing the treatment of FDR interest as business income. The tribunal found the NP rate declared by the assessee to be fair and progressive, deleting the addition sustained by the CIT(A) based on past tribunal decisions. Additionally, the tribunal held that the FDR interest had a direct link to securing contracts and business operations, directing the AO to treat it as business income. en-us Mon, 26 Aug 2013 00:00:00 +0530 Tue, 13 Dec 2016 11:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=180458 The tribunal allowed the appeal, overturning the CIT(A)'s decision regarding the estimation of NP rate at 7% and directing the treatment of FDR interest as business income. The tribunal found the NP rate declared by the assessee to be fair and progressive, deleting the addition sustained by the CIT(A) based on past tribunal decisions. Additionally, the tribunal held that the FDR interest had a direct link to securing contracts and business operations, directing the AO to treat it as business income. Case-Laws Income Tax Mon, 26 Aug 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=180458