Allowability of sec.80IA deduction on interest on Fixed Deposits and TDS refund linked to business

Gateway Terminals India Pvt. Ltd. Vs DCIT (Bombay High Court)

Conclusion: Assessee was entitled to deduction under Section 80IA on business income in the nature of interest from fixed deposits with the bank and on interest on TDS refund as TDS refund received by assessee was an integral part connected with the receipt of business income by assessee and the same could not be separated from the business of assessee.

Held: Assessee was engaged in its only business of operating and maintaining a container terminal at Jawaharlal Nehru Port Trust

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