https://www.taxtmi.com/caselaws?id=55353 The Tribunal held that interest received on delayed payment of sale consideration qualifies as "income derived" from the industrial undertaking for the purposes of deduction under section 80-IA of the IT Act. It determined that such interest is an augmentation of the sale consideration and should be treated as part of the sale proceeds. The Tribunal emphasized that the net interest (interest received minus interest paid) should be considered. As a result, the Tribunal allowed the assessee's appeals and deleted the additions made for the relevant assessment years, while rejecting the stay applications. en-us Thu, 14 Dec 2000 00:00:00 +0530 Thu, 25 Nov 2010 18:21:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=55353 The Tribunal held that interest received on delayed payment of sale consideration qualifies as "income derived" from the industrial undertaking for the purposes of deduction under section 80-IA of the IT Act. It determined that such interest is an augmentation of the sale consideration and should be treated as part of the sale proceeds. The Tribunal emphasized that the net interest (interest received minus interest paid) should be considered. As a result, the Tribunal allowed the assessee's appeals and deleted the additions made for the relevant assessment years, while rejecting the stay applications. Case-Laws Income Tax Thu, 14 Dec 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=55353