https://www.taxtmi.com/caselaws?id=396263 The High Court of Karnataka ruled in favor of the assessee in a case concerning the interpretation of Section 10A of the Income Tax Act. The Court held that interest earned on deposits kept as margin money is eligible for deduction under Section 10A. Additionally, the Court allowed the setting off of losses from specific units against profits of another unit for computing deduction under Section 10A, following relevant legal provisions and precedents. The Court dismissed the appeal, affirming the decisions in favor of the assessee. en-us Thu, 11 Jun 2020 00:00:00 +0530 Sat, 27 Jun 2020 21:55:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=396263 The High Court of Karnataka ruled in favor of the assessee in a case concerning the interpretation of Section 10A of the Income Tax Act. The Court held that interest earned on deposits kept as margin money is eligible for deduction under Section 10A. Additionally, the Court allowed the setting off of losses from specific units against profits of another unit for computing deduction under Section 10A, following relevant legal provisions and precedents. The Court dismissed the appeal, affirming the decisions in favor of the assessee. Case-Laws Income Tax Thu, 11 Jun 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=396263