2017 (1) TMI 1585

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.... ORDER This is an appeal filed by the assessee directed against the order of the Commissioner of Income Tax (Appeals) dated 12/10/2015 for the assessment year 2009-10 on the following grounds: "1. Because on facts and in circumstances of the case, the CIT(A)-I, Dehradun has erred in not allowing the benefit of deduction u/s 80 IC on the above said addition despite the same being eligib....

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....e Sh. Rajesh Kumar. The assessee in this year has earned interest income on FDR's, which were pledged as performance guarantee, in terms of the contract awarded by UPCL for manufacture of electronic meters. The issue is whether such interest income is eligible for deduction under section 80 IC of the act. 4. The 1st appellate authority has followed the decision of the tribunal in the assessee's....