https://www.taxtmi.com/caselaws?id=441313 The court upheld the Tribunal's decision that interest received on a fixed deposit, created to secure payment of entry tax, is not eligible for deduction under Section 80IC of the Income Tax Act. The court found that such interest cannot be categorized as income derived from an eligible business, even if incorrectly characterized. The appeal was dismissed as no substantial question of law was identified, affirming the ineligibility of the interest for deduction. en-us Mon, 24 Jul 2023 00:00:00 +0530 Sat, 05 Aug 2023 08:06:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=441313 The court upheld the Tribunal's decision that interest received on a fixed deposit, created to secure payment of entry tax, is not eligible for deduction under Section 80IC of the Income Tax Act. The court found that such interest cannot be categorized as income derived from an eligible business, even if incorrectly characterized. The appeal was dismissed as no substantial question of law was identified, affirming the ineligibility of the interest for deduction. Case-Laws Income Tax Mon, 24 Jul 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=441313