https://www.taxtmi.com/caselaws?id=787917 Interest on an income-tax refund received in the year under appeal is taxable on a receipt basis and, where such interest arises from or is integrally connected with the business receipts of an eligible undertaking, it forms part of business income and qualifies for deduction under the regime for eligible undertakings. The timing of the underlying refund (relating to an earlier year) does not defeat deduction; the entire interest amount was treated as statutory compensation received in the year of receipt and allowed as a deduction. en-us Wed, 26 Nov 2025 00:00:00 +0530 Sat, 14 Mar 2026 08:36:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=787917 Interest on an income-tax refund received in the year under appeal is taxable on a receipt basis and, where such interest arises from or is integrally connected with the business receipts of an eligible undertaking, it forms part of business income and qualifies for deduction under the regime for eligible undertakings. The timing of the underlying refund (relating to an earlier year) does not defeat deduction; the entire interest amount was treated as statutory compensation received in the year of receipt and allowed as a deduction. Case-Laws Income Tax Wed, 26 Nov 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=787917