https://www.taxtmi.com/caselaws?id=297446 The Tribunal allowed the Revenue's appeal, ruling that interest income and miscellaneous income were not directly derived from eligible business activities for deduction under section 80IA, in accordance with the Supreme Court's decision in the Conventional Fastners case. The Tribunal held that interest earned on fixed deposits for obtaining bank guarantees did not qualify as profit derived from business activities, setting aside the CIT(A)'s order and upholding the Revenue's position. en-us Tue, 05 Jun 2018 00:00:00 +0530 Sun, 05 Sep 2021 21:52:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=297446 The Tribunal allowed the Revenue's appeal, ruling that interest income and miscellaneous income were not directly derived from eligible business activities for deduction under section 80IA, in accordance with the Supreme Court's decision in the Conventional Fastners case. The Tribunal held that interest earned on fixed deposits for obtaining bank guarantees did not qualify as profit derived from business activities, setting aside the CIT(A)'s order and upholding the Revenue's position. Case-Laws Income Tax Tue, 05 Jun 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=297446