https://www.taxtmi.com/caselaws?id=351414 The Tribunal upheld the Commissioner of Income Tax's order under section 263, setting aside the assessment order and directing the Assessing Officer to re-compute the income. The Tribunal agreed with the Commissioner that the interest income was not eligible for deduction under section 80IB as it was not derived from the industrial undertaking. The Tribunal found no violation of natural justice in the proceedings and dismissed the appeal of the assessee. en-us Tue, 21 Nov 2017 00:00:00 +0530 Fri, 24 Nov 2017 06:28:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=351414 The Tribunal upheld the Commissioner of Income Tax's order under section 263, setting aside the assessment order and directing the Assessing Officer to re-compute the income. The Tribunal agreed with the Commissioner that the interest income was not eligible for deduction under section 80IB as it was not derived from the industrial undertaking. The Tribunal found no violation of natural justice in the proceedings and dismissed the appeal of the assessee. Case-Laws Income Tax Tue, 21 Nov 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=351414