https://www.taxtmi.com/caselaws?id=305854 The Tribunal dismissed the appeals challenging the orders of the Commissioner of Income-tax(Appeals) for assessment years 2006-07, 2007-08, and the order under sec.263 for the assessment year 2008-09. The Tribunal upheld the Commissioner's decision to treat interest income earned from deposits made in trust and retention account under financing agreement as not eligible for deduction u/s.80IA. It was determined that the interest income did not qualify as business income and should be considered as income from other sources, affirming the decision to withdraw the deduction previously granted to the assessee. en-us Fri, 29 May 2015 00:00:00 +0530 Wed, 28 Dec 2022 08:18:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=305854 The Tribunal dismissed the appeals challenging the orders of the Commissioner of Income-tax(Appeals) for assessment years 2006-07, 2007-08, and the order under sec.263 for the assessment year 2008-09. The Tribunal upheld the Commissioner's decision to treat interest income earned from deposits made in trust and retention account under financing agreement as not eligible for deduction u/s.80IA. It was determined that the interest income did not qualify as business income and should be considered as income from other sources, affirming the decision to withdraw the deduction previously granted to the assessee. Case-Laws Income Tax Fri, 29 May 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=305854