https://www.taxtmi.com/caselaws?id=429479 The assessee's appeal was partly allowed, with the primary grounds decided in their favor. The disallowance of deduction under Section 80IA(4) was overturned as the assessee was recognized as a developer. Set-off of losses from loss-making infrastructure facilities was disallowed, following the unit-wise computation principle. The exclusion of net interest income for deduction purposes was allowed due to its direct nexus with business activities. Disallowance of interest under Section 36(1)(iii) was deleted for lack of nexus between interest-bearing funds and interest-free advances. Consequential grounds regarding the levy of interest were dismissed. en-us Mon, 10 Oct 2022 00:00:00 +0530 Fri, 28 Oct 2022 10:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=429479 The assessee's appeal was partly allowed, with the primary grounds decided in their favor. The disallowance of deduction under Section 80IA(4) was overturned as the assessee was recognized as a developer. Set-off of losses from loss-making infrastructure facilities was disallowed, following the unit-wise computation principle. The exclusion of net interest income for deduction purposes was allowed due to its direct nexus with business activities. Disallowance of interest under Section 36(1)(iii) was deleted for lack of nexus between interest-bearing funds and interest-free advances. Consequential grounds regarding the levy of interest were dismissed. Case-Laws Income Tax Mon, 10 Oct 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=429479