Deduction u/s. 80IA(4)(iii) - interest income received - Income ...

Interest from Bank Deposits Not Deductible u/s 80IA(4)(iii), Not Linked to Eligible Business Activities.

September 6, 2021

Case Laws     Income Tax     AT

Deduction u/s. 80IA(4)(iii) - interest income received - Income derived from - In the present case, the immediate source of interest income was the fixed deposits kept by the assessee with the bank and not the business of the eligible undertaking of the assessee company and the same, in our opinion, is not eligible for deduction u/s. 80IA, as rightly held by the authorities below. - AT

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