https://www.taxtmi.com/caselaws?id=361228 The appeal was dismissed as the interest income from FDRs, claimed for deduction under section 80IC of the I.T. Act, did not have a direct nexus with the industrial undertaking's manufacturing activities. The delay in filing the appeal was condoned. Previous judgments and decisions by the Tribunal and Hon'ble Uttarakhand High Court confirmed the denial of the deduction, emphasizing the lack of connection between the interest income and the primary business activities of the assessee. Despite arguments and reliance on a Supreme Court decision, the appeal was dismissed based on the consistent denial of similar claims in previous years. en-us Fri, 18 May 2018 00:00:00 +0530 Sat, 02 Jun 2018 12:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=361228 The appeal was dismissed as the interest income from FDRs, claimed for deduction under section 80IC of the I.T. Act, did not have a direct nexus with the industrial undertaking's manufacturing activities. The delay in filing the appeal was condoned. Previous judgments and decisions by the Tribunal and Hon'ble Uttarakhand High Court confirmed the denial of the deduction, emphasizing the lack of connection between the interest income and the primary business activities of the assessee. Despite arguments and reliance on a Supreme Court decision, the appeal was dismissed based on the consistent denial of similar claims in previous years. Case-Laws Income Tax Fri, 18 May 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=361228