https://www.taxtmi.com/caselaws?id=30676 The Court upheld the Tribunal's decision that interest income of a Private Limited Company did not qualify for exemption under Section 10A of the Income-tax Act, as it lacked a direct nexus with the industrial undertaking and was rightly assessed under "income from other sources." The judgment emphasized the need for a direct link between the income source and the industrial activity to be eligible for relief under Section 10A. The Court found no error in the Tribunal's decision, stating no substantial question of law arose and dismissed the tax case without costs. en-us Wed, 04 Jul 2007 00:00:00 +0530 Mon, 15 Sep 2008 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=30676 The Court upheld the Tribunal's decision that interest income of a Private Limited Company did not qualify for exemption under Section 10A of the Income-tax Act, as it lacked a direct nexus with the industrial undertaking and was rightly assessed under "income from other sources." The judgment emphasized the need for a direct link between the income source and the industrial activity to be eligible for relief under Section 10A. The Court found no error in the Tribunal's decision, stating no substantial question of law arose and dismissed the tax case without costs. Case-Laws Income Tax Wed, 04 Jul 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=30676