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Deduction u/s 80IAB available to interest income from FD, customer’s receipts and business advances
Case Law Details
- Case Name
- Adani Ports & Special Economic Vs Commissioner of Income Tax (ITAT Ahmedabad)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2011-12
- Courts
- All ITAT, ITAT Ahmedabad
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Adani Ports & Special Economic Vs Commissioner of Income Tax (ITAT Ahmedabad)
ITAT Ahmedabad held that interest income related to FD interest, interest from customer’s receipts and interest income from business advances is eligible for deduction under section 80IAB of the Income Tax Act.
Facts- Assessee has preferred the present appeal contesting that CIT(A) has erred in confirming disallowance made by the Assessing Officer while computing Profits and Gains eligible for deduction u/s.80-IAB of the IT. Act, thereby holding that Interest Income derived by the appellant fro...
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