Court Rules Interest from Bank Deposits Not Eligible for Deductions u/s 80I of Income Tax Act.

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....Deduction u/s 80I - Interest income from Bank deposits - when the immediate and effective source of interest is the deposit and not the business of the respondent undertaking viz., the manufacture of chimneys and furnace, it will have to held that the respondent is not entitled to claim benefits as provided u/s 80IB.... - HC....