https://www.taxtmi.com/caselaws?id=55685 The Tribunal ruled that interest income of Rs. 4,50,000 derived from deposits with a sister-concern by a company operating in a Free Trade Zone did not qualify for exemption under section 10A of the Income Tax Act. The Tribunal emphasized the strict interpretation of the statute, stating that the interest income did not align with the objectives of promoting export-oriented industries in Free Trade Zones. Additionally, the Tribunal dismissed the revenue's appeal challenging the exemption granted to the assessee's total income from pharmaceutical products under section 10A, based on a previous order in favor of the assessee. en-us Tue, 26 Jul 1994 00:00:00 +0530 Mon, 29 Nov 2010 14:01:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=55685 The Tribunal ruled that interest income of Rs. 4,50,000 derived from deposits with a sister-concern by a company operating in a Free Trade Zone did not qualify for exemption under section 10A of the Income Tax Act. The Tribunal emphasized the strict interpretation of the statute, stating that the interest income did not align with the objectives of promoting export-oriented industries in Free Trade Zones. Additionally, the Tribunal dismissed the revenue's appeal challenging the exemption granted to the assessee's total income from pharmaceutical products under section 10A, based on a previous order in favor of the assessee. Case-Laws Income Tax Tue, 26 Jul 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=55685