https://www.taxtmi.com/caselaws?id=4621 The High Court affirmed that interest income from fixed deposits with the bank and IDBI had a close nexus with the business of the assessee-company, making it eligible for deductions under section 80-I of the Income-tax Act. The court ruled in favor of the assessee, holding that the interest income was part of the profits and gains derived from the industrial undertaking. This decision aligned with legal precedents and interpretations supporting the inclusion of such interest income in business profits for deduction purposes. en-us Tue, 18 Sep 2007 00:00:00 +0530 Sat, 26 Jul 2008 11:29:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=4621 The High Court affirmed that interest income from fixed deposits with the bank and IDBI had a close nexus with the business of the assessee-company, making it eligible for deductions under section 80-I of the Income-tax Act. The court ruled in favor of the assessee, holding that the interest income was part of the profits and gains derived from the industrial undertaking. This decision aligned with legal precedents and interpretations supporting the inclusion of such interest income in business profits for deduction purposes. Case-Laws Income Tax Tue, 18 Sep 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=4621