https://www.taxtmi.com/highlights?id=71340 Deduction u/s 80IC - interest received on a fixed deposit - Insofar as Appellant is concerned that the AO could not have, in such circumstances, treated the interest accrued on fixed deposit as business income, is a submission which has merit. However, that said, this would not impact the tax burden insofar as the appellant/assessee is concerned; what would change, perhaps, would only be the head under which such income is made amenable to tax. - Petition dismissed - HC en-us Sat, 05 Aug 2023 10:09:11 +0530 Sat, 05 Aug 2023 10:09:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=71340 Deduction u/s 80IC - interest received on a fixed deposit - Insofar as Appellant is concerned that the AO could not have, in such circumstances, treated the interest accrued on fixed deposit as business income, is a submission which has merit. However, that said, this would not impact the tax burden insofar as the appellant/assessee is concerned; what would change, perhaps, would only be the head under which such income is made amenable to tax. - Petition dismissed - HC Highlights Income Tax Sat, 05 Aug 2023 10:09:11 +0530 https://www.taxtmi.com/highlights?id=71340