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Deduction u/s. 10AA allowed on interest received from fixed deposits and loans to employees
Case Law Details
- Case Name
- Genpact India Pvt. Ltd. Vs ACIT (OSD) (ITAT Delhi)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2010-11
- Courts
- All ITAT, ITAT Delhi
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Genpact India Pvt. Ltd. Vs ACIT (OSD) (ITAT Delhi)
ITAT Delhi held that interest income from fixed deposits and loans given to employees is eligible for claiming benefit under section 10AA of the Income Tax Act. Accordingly, AO allowed to claim deduction u/s. 10AA and appeal of assessee allowed.
Facts- The assessee is engaged in the business of providing various types of business process outsourcing services including finance and accounting, collections, insurance, customer fulfillment, data modeling and analytics support, managed IT services, software solutions and e-learning.
AO treated the ...
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