https://www.taxtmi.com/caselaws?id=420577 The Tribunal allowed the assessee's appeals by determining the initial assessment year for claiming Section 80 IC deduction as 2006-07. AMC charges were allowed for deduction, following a previous decision. However, duty draw back, interest on FDRs, and other interest were not considered derived from the business and thus not eligible for deduction under Section 80 IC. The decision was based on precedent and the specific nature of each income source in relation to the assessee's eligible business. en-us Mon, 21 Mar 2022 00:00:00 +0530 Tue, 05 Apr 2022 09:09:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=420577 The Tribunal allowed the assessee's appeals by determining the initial assessment year for claiming Section 80 IC deduction as 2006-07. AMC charges were allowed for deduction, following a previous decision. However, duty draw back, interest on FDRs, and other interest were not considered derived from the business and thus not eligible for deduction under Section 80 IC. The decision was based on precedent and the specific nature of each income source in relation to the assessee's eligible business. Case-Laws Income Tax Mon, 21 Mar 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=420577