https://www.taxtmi.com/caselaws?id=375641 Interest earned on fixed deposits made from amounts statutorily transferred to reserve funds was treated as income attributable to the assessee's business-compliance framework and therefore qualified for deduction under section 80P(2)(a)(i). The Tribunal distinguished such mandated reserve fund investments from deposits of mere surplus funds, and allowed the deduction for fixed deposit interest earned from nationalized banks. However, it excluded saving account interest from the benefit, confining relief to the interest arising from the statutory investment of reserve fund amounts. en-us Tue, 19 Feb 2019 00:00:00 +0530 Wed, 20 Feb 2019 14:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=375641 Interest earned on fixed deposits made from amounts statutorily transferred to reserve funds was treated as income attributable to the assessee's business-compliance framework and therefore qualified for deduction under section 80P(2)(a)(i). The Tribunal distinguished such mandated reserve fund investments from deposits of mere surplus funds, and allowed the deduction for fixed deposit interest earned from nationalized banks. However, it excluded saving account interest from the benefit, confining relief to the interest arising from the statutory investment of reserve fund amounts. Case-Laws Income Tax Tue, 19 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=375641