https://www.taxtmi.com/caselaws?id=185977 The Tribunal dismissed the claim for deduction under section 80IB for interest income and surrendered income, as the assessee failed to prove the source of investment in excess stock derived from the industrial undertaking. The Tribunal directed the Assessing Officer to re-examine the nexus between interest paid and earned for computing the deduction under section 80IB. Additionally, the Tribunal found the household withdrawals and car expenses reasonable, adjusting the disallowances accordingly. The addition under section 40A(2)(b) for higher interest rates paid to related parties was confirmed. The appeals were partly allowed with specific directions for re-examination by the Assessing Officer. en-us Tue, 15 Dec 2009 00:00:00 +0530 Mon, 05 Sep 2016 10:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=185977 The Tribunal dismissed the claim for deduction under section 80IB for interest income and surrendered income, as the assessee failed to prove the source of investment in excess stock derived from the industrial undertaking. The Tribunal directed the Assessing Officer to re-examine the nexus between interest paid and earned for computing the deduction under section 80IB. Additionally, the Tribunal found the household withdrawals and car expenses reasonable, adjusting the disallowances accordingly. The addition under section 40A(2)(b) for higher interest rates paid to related parties was confirmed. The appeals were partly allowed with specific directions for re-examination by the Assessing Officer. Case-Laws Income Tax Tue, 15 Dec 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=185977