https://www.taxtmi.com/caselaws?id=296663 The Tribunal upheld the disallowance of deduction claimed under section 80IA of the Act for interest income from deposits and other income, as they were not derived from the business of the assessee. Expenditure exclusion for income not forming part of eligible profit was rejected due to lack of corresponding expenditure details. The claim for gratuity amount paid to LIC was dismissed for lack of a necessary trust deed. However, the assessee was granted deduction under section 80IA for revenue sharing income, except for interest income. Both the assessee and Revenue appeals were dismissed, affirming lower authorities' decisions. en-us Fri, 19 Feb 2016 00:00:00 +0530 Mon, 02 Aug 2021 09:02:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=296663 The Tribunal upheld the disallowance of deduction claimed under section 80IA of the Act for interest income from deposits and other income, as they were not derived from the business of the assessee. Expenditure exclusion for income not forming part of eligible profit was rejected due to lack of corresponding expenditure details. The claim for gratuity amount paid to LIC was dismissed for lack of a necessary trust deed. However, the assessee was granted deduction under section 80IA for revenue sharing income, except for interest income. Both the assessee and Revenue appeals were dismissed, affirming lower authorities' decisions. Case-Laws Income Tax Fri, 19 Feb 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=296663