Deduction u/s 80-IA - Nature of Interest income - the interest ...

Interest Income from Employee Loans and GRIDCO Bonds Qualifies for Section 80-IA Deduction as Essential Business Activity.

March 12, 2022

Case Laws Income Tax HC

Deduction u/s 80-IA - Nature of Interest income - the interest received on advances and loans given to its employees are receipts in normal course of carrying its business and should be considered as income derived from its essential business activities. Likewise, the late payment by GRIDCO for the electricity supplied, is sought to be made up by GRIDCO by issuing bonds on which the Assessee earns interest. This also therefore, has a direct nexus with the essential business activity of the Assessee. - HC

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Deduction u/s 80-IA - Nature of Interest income - the interest ...

Interest Income from Employee Loans and GRIDCO Bonds Qualifies for Section 80-IA Deduction as Essential Business Activity.

March 12, 2022

Case Laws Income Tax HC

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