Deduction u/s 80IC eligible for interest from deposit with electricity department

La Opala Rg. Ltd. Vs DCIT (ITAT Kolkata) The assessee was under compulsion to maintain a deposit with the electricity board to ensure supply of power to the unit and such interest income had first-degree nexus with the eligible undertaking of the assessee and accordingly the same would equally qualify for the deduction u/s 80IC of the Act. Facts- The assessee company is engaged in the business of manufacturing Opal & Crystal Glassware and the sale of electricity generated from the wind farm. AO notes that for AY 2015-16 the assessee filed its return of income u/s. 139 of the Act declaring ...