https://www.taxtmi.com/caselaws?id=20235 The court held that the interest income on deposits with the Electricity Board should not be deducted from the gross total income for computing relief under section 80-I of the Income-tax Act, 1961. The court emphasized that the interest was connected to the business of the priority industry, as it was necessary for the uninterrupted supply of electricity. The decision favored the assessee, upholding the Tribunal's ruling and ruling against the Revenue, with no costs awarded. en-us Thu, 19 Aug 1993 00:00:00 +0530 Thu, 12 Nov 2009 16:33:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=20235 The court held that the interest income on deposits with the Electricity Board should not be deducted from the gross total income for computing relief under section 80-I of the Income-tax Act, 1961. The court emphasized that the interest was connected to the business of the priority industry, as it was necessary for the uninterrupted supply of electricity. The decision favored the assessee, upholding the Tribunal's ruling and ruling against the Revenue, with no costs awarded. Case-Laws Income Tax Thu, 19 Aug 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=20235