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ITAT allows Section 80IC Deduction on Interest on Electricity Deposit, Recovery from Transporters & Sundry Balances of Vendors written off
Case Law Details
- Case Name
- ACIT Vs Gujarat Ambuja Exports Ltd. (ITAT Ahmedabad)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2014-15
- Courts
- All ITAT, ITAT Ahmedabad
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ACIT Vs Gujarat Ambuja Exports Ltd. (ITAT Ahmedabad)
The ld.counsel for the assessee at the very outset submitted that as far as amounts mentioned under the head interest on NSC and interest on staff loan is concerned they are not in dispute. The deduction claimed under section 80IC with regard to both these items have not been granted by the ld.CIT(A), and the assessee is not challenging the finding of the ld.CIT(A). The Revenue is challenging the grant of deduction with regard to income earned on interest on electricity deposits, recovery from transporters and sundry balance...
