https://www.taxtmi.com/caselaws?id=423998 Interest earned on temporarily unutilised business funds was treated as business income because the deposits were made from funds generated in the course of business and pending operational use, so the receipt remained linked to business deployment. Natural gas was held to fall within the wider expression mineral oil for deduction under section 80-IB(9), since the provision did not define the term and the statutory context supported a broad construction. On transfer pricing, interest imputation on outstanding receivables was not accepted at the domestic prime lending rate; the adjustment was recalibrated on a LIBOR-linked basis as the reasonable benchmark. en-us Wed, 15 Jun 2022 00:00:00 +0530 Sat, 18 Jun 2022 11:01:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=423998 Interest earned on temporarily unutilised business funds was treated as business income because the deposits were made from funds generated in the course of business and pending operational use, so the receipt remained linked to business deployment. Natural gas was held to fall within the wider expression mineral oil for deduction under section 80-IB(9), since the provision did not define the term and the statutory context supported a broad construction. On transfer pricing, interest imputation on outstanding receivables was not accepted at the domestic prime lending rate; the adjustment was recalibrated on a LIBOR-linked basis as the reasonable benchmark. Case-Laws Income Tax Wed, 15 Jun 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=423998