https://www.taxtmi.com/caselaws?id=34053 The High Court ruled in favor of the Revenue, stating that the assessee was not entitled to deduction on interest received on term deposits with M. P. E. B. for the supply of high tension electricity. The court emphasized that interest income not directly related to the industrial activities was not eligible for deductions under sections 80HH and 80-I, citing precedents and holding that such income must have a direct nexus with the business to qualify for deductions. en-us Tue, 19 Aug 2008 00:00:00 +0530 Thu, 09 Jul 2009 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=34053 The High Court ruled in favor of the Revenue, stating that the assessee was not entitled to deduction on interest received on term deposits with M. P. E. B. for the supply of high tension electricity. The court emphasized that interest income not directly related to the industrial activities was not eligible for deductions under sections 80HH and 80-I, citing precedents and holding that such income must have a direct nexus with the business to qualify for deductions. Case-Laws Income Tax Tue, 19 Aug 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=34053