https://www.taxtmi.com/caselaws?id=469237 Deduction for an approved industrial park undertaking under section 80IA(4)(iii) remains available to a transferee for the unexpired eligibility period where the undertaking is transferred; the transferee's later constitution does not disqualify the claim because eligibility attaches to the approved undertaking. The deduction covers income of the transferred undertaking and is not confined solely to operation and maintenance income. Interest on fixed deposits lacks the required direct nexus with the industrial undertaking and is excluded from eligible profits, while related interest expenditure must be allowed. Recognition as a partnership firm applies where partnership requirements and partner authorisations are satisfied, rather than assessment as an association of persons. en-us Fri, 04 Jul 2025 00:00:00 +0530 Wed, 10 Jun 2026 20:06:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=469237 Deduction for an approved industrial park undertaking under section 80IA(4)(iii) remains available to a transferee for the unexpired eligibility period where the undertaking is transferred; the transferee's later constitution does not disqualify the claim because eligibility attaches to the approved undertaking. The deduction covers income of the transferred undertaking and is not confined solely to operation and maintenance income. Interest on fixed deposits lacks the required direct nexus with the industrial undertaking and is excluded from eligible profits, while related interest expenditure must be allowed. Recognition as a partnership firm applies where partnership requirements and partner authorisations are satisfied, rather than assessment as an association of persons. Case-Laws Income Tax Fri, 04 Jul 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=469237