https://www.taxtmi.com/caselaws?id=329412 The Tribunal dismissed the appeal, ruling that interest income of INR 2,52,04,544 derived from an industrial undertaking was not eligible for deduction under section 80IAB of the Income Tax Act. The Tribunal emphasized the lack of a direct nexus between the interest income and the industrial undertaking, following a Supreme Court precedent. Despite arguments that the interest income was incidental to the business activities, the Tribunal upheld the decision that the interest income did not qualify for the deduction. en-us Fri, 29 Apr 2016 00:00:00 +0530 Fri, 01 Jul 2016 12:43:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=329412 The Tribunal dismissed the appeal, ruling that interest income of INR 2,52,04,544 derived from an industrial undertaking was not eligible for deduction under section 80IAB of the Income Tax Act. The Tribunal emphasized the lack of a direct nexus between the interest income and the industrial undertaking, following a Supreme Court precedent. Despite arguments that the interest income was incidental to the business activities, the Tribunal upheld the decision that the interest income did not qualify for the deduction. Case-Laws Income Tax Fri, 29 Apr 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=329412