https://www.taxtmi.com/caselaws?id=280476 The Tribunal dismissed the Revenue's appeals for Assessment Years 2010-11 and 2011-12. It upheld the Ld. CIT(A)'s decisions allowing deductions under Section 80IE for substantial expansion of tea gardens and classifying interest income under 'Business' with the application of Rule 8. The Tribunal emphasized that the expansion exceeding 25% of plant and machinery's book value and interest income netted against expenses should be considered under Rule 8, following precedents and rejecting Revenue's contentions. en-us Fri, 01 Feb 2019 00:00:00 +0530 Tue, 07 May 2019 06:02:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=280476 The Tribunal dismissed the Revenue's appeals for Assessment Years 2010-11 and 2011-12. It upheld the Ld. CIT(A)'s decisions allowing deductions under Section 80IE for substantial expansion of tea gardens and classifying interest income under 'Business' with the application of Rule 8. The Tribunal emphasized that the expansion exceeding 25% of plant and machinery's book value and interest income netted against expenses should be considered under Rule 8, following precedents and rejecting Revenue's contentions. Case-Laws Income Tax Fri, 01 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=280476