Deduction u/s 80IC - interest received on a fixed deposit - ...

Court Rules Interest on Fixed Deposit Not Business Income for Section 80IC Deduction; Petition Dismissed.

August 5, 2023

Case Laws Income Tax HC

Deduction u/s 80IC - interest received on a fixed deposit - Insofar as Appellant is concerned that the AO could not have, in such circumstances, treated the interest accrued on fixed deposit as business income, is a submission which has merit. However, that said, this would not impact the tax burden insofar as the appellant/assessee is concerned; what would change, perhaps, would only be the head under which such income is made amenable to tax. - Petition dismissed - HC

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Deduction u/s 80IC - interest received on a fixed deposit - ...

Court Rules Interest on Fixed Deposit Not Business Income for Section 80IC Deduction; Petition Dismissed.

August 5, 2023

Case Laws Income Tax HC

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