https://www.taxtmi.com/caselaws?id=779843 ITAT HYDERABAD - AT upheld the CIT(A)'s view that interest on fixed deposits is not eligible for deduction under s.10AA unless deposits were made for business expediency or inextricably linked to export operations; interest earned on surplus investments held merely to earn income remains "income from other sources." The tribunal affirmed reliance on commercial-expediency principles and consistency where interest had earlier been assessed as other income. Issues regarding incorrect book-profit computation under s.115JB, disallowance under s.43B for leave encashment, and a potential double addition of interest were remanded to the AO for verification and fresh adjudication. en-us Thu, 23 Jan 2025 00:00:00 +0530 Tue, 14 Oct 2025 09:39:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=779843 ITAT HYDERABAD - AT upheld the CIT(A)'s view that interest on fixed deposits is not eligible for deduction under s.10AA unless deposits were made for business expediency or inextricably linked to export operations; interest earned on surplus investments held merely to earn income remains "income from other sources." The tribunal affirmed reliance on commercial-expediency principles and consistency where interest had earlier been assessed as other income. Issues regarding incorrect book-profit computation under s.115JB, disallowance under s.43B for leave encashment, and a potential double addition of interest were remanded to the AO for verification and fresh adjudication. Case-Laws Income Tax Thu, 23 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=779843