https://www.taxtmi.com/caselaws?id=284406 The Tribunal upheld the allowance of deduction under section 80IB for interest earned from fixed deposits, citing a direct nexus to business activity based on a previous decision by the Calcutta High Court. Additionally, the Tribunal agreed with the ld. CIT(A)'s decision to limit the disallowance under section 14A to 1% of exempt dividend income, dismissing the Revenue's appeal on both grounds. en-us Fri, 08 Jul 2016 00:00:00 +0530 Sat, 16 Nov 2019 15:24:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=284406 The Tribunal upheld the allowance of deduction under section 80IB for interest earned from fixed deposits, citing a direct nexus to business activity based on a previous decision by the Calcutta High Court. Additionally, the Tribunal agreed with the ld. CIT(A)'s decision to limit the disallowance under section 14A to 1% of exempt dividend income, dismissing the Revenue's appeal on both grounds. Case-Laws Income Tax Fri, 08 Jul 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=284406