https://www.taxtmi.com/caselaws?id=190999 The Tribunal upheld the exclusion of interest income and commission income for the appellant under section 80-I for Assessment years 1990-91 to 1993-94. The decision was based on the Supreme Court's ruling that income must directly relate to the industrial undertaking to qualify for deduction. The Tribunal emphasized that interest and commission income, regardless of utilization, are considered independent income sources and do not meet the criteria for deduction. The appellant's arguments regarding the treatment of interest income were dismissed, and the disallowance of both interest and commission income was affirmed for the relevant assessment years. en-us Fri, 29 Oct 1999 00:00:00 +0530 Thu, 16 Mar 2017 16:53:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=190999 The Tribunal upheld the exclusion of interest income and commission income for the appellant under section 80-I for Assessment years 1990-91 to 1993-94. The decision was based on the Supreme Court's ruling that income must directly relate to the industrial undertaking to qualify for deduction. The Tribunal emphasized that interest and commission income, regardless of utilization, are considered independent income sources and do not meet the criteria for deduction. The appellant's arguments regarding the treatment of interest income were dismissed, and the disallowance of both interest and commission income was affirmed for the relevant assessment years. Case-Laws Income Tax Fri, 29 Oct 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=190999