https://www.taxtmi.com/caselaws?id=289130 The Tribunal upheld the lower authorities' decisions in a tax case involving deduction claims under section 80IA of the Income Tax Act. It ruled that interest income and other income were not eligible for deduction under section 80IA, following the precedent set by the Supreme Court. Additionally, the Tribunal affirmed that lease rent income should be treated as income from business and is eligible for deduction under section 80IA. The Tribunal also upheld the CIT(A)'s decision on the disallowance under section 14A of the Act, restricting the disallowance to the extent of exempt income earned by the assessee. Both the assessee and Revenue's appeals were dismissed by the Tribunal. en-us Wed, 04 Apr 2018 00:00:00 +0530 Wed, 15 Jul 2020 22:52:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=289130 The Tribunal upheld the lower authorities' decisions in a tax case involving deduction claims under section 80IA of the Income Tax Act. It ruled that interest income and other income were not eligible for deduction under section 80IA, following the precedent set by the Supreme Court. Additionally, the Tribunal affirmed that lease rent income should be treated as income from business and is eligible for deduction under section 80IA. The Tribunal also upheld the CIT(A)'s decision on the disallowance under section 14A of the Act, restricting the disallowance to the extent of exempt income earned by the assessee. Both the assessee and Revenue's appeals were dismissed by the Tribunal. Case-Laws Income Tax Wed, 04 Apr 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=289130