https://www.taxtmi.com/caselaws?id=59402 The Tribunal partially allowed the appeal by granting exemption under Section 10(23FB) for the interest income earned by the venture capital fund. The Tribunal held that the interest income was exempt for the relevant assessment year as it was generated as a stop-gap arrangement and not as a primary investment activity. The Tribunal did not adjudicate on the issue of investments in certain companies as no income was received from these investments during the relevant year, deeming the issue academic. The application of Section 14A was dismissed as the exemption for the interest income was granted. en-us Thu, 05 Nov 2009 00:00:00 +0530 Thu, 30 May 2013 18:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=59402 The Tribunal partially allowed the appeal by granting exemption under Section 10(23FB) for the interest income earned by the venture capital fund. The Tribunal held that the interest income was exempt for the relevant assessment year as it was generated as a stop-gap arrangement and not as a primary investment activity. The Tribunal did not adjudicate on the issue of investments in certain companies as no income was received from these investments during the relevant year, deeming the issue academic. The application of Section 14A was dismissed as the exemption for the interest income was granted. Case-Laws Income Tax Thu, 05 Nov 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=59402