https://www.taxtmi.com/highlights?id=62418 Deduction u/s 80-IA - Nature of Interest income - the interest received on advances and loans given to its employees are receipts in normal course of carrying its business and should be considered as income derived from its essential business activities. Likewise, the late payment by GRIDCO for the electricity supplied, is sought to be made up by GRIDCO by issuing bonds on which the Assessee earns interest. This also therefore, has a direct nexus with the essential business activity of the Assessee. - HC en-us Sat, 12 Mar 2022 13:13:44 +0530 Sat, 12 Mar 2022 13:13:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=62418 Deduction u/s 80-IA - Nature of Interest income - the interest received on advances and loans given to its employees are receipts in normal course of carrying its business and should be considered as income derived from its essential business activities. Likewise, the late payment by GRIDCO for the electricity supplied, is sought to be made up by GRIDCO by issuing bonds on which the Assessee earns interest. This also therefore, has a direct nexus with the essential business activity of the Assessee. - HC Highlights Income Tax Sat, 12 Mar 2022 13:13:44 +0530 https://www.taxtmi.com/highlights?id=62418