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Deductions u/s 80IA eligible on FDR Interest, Scrap Sales, EDI Charges & ICD Operations
Case Law Details
- Case Name
- DCIT Vs JWC Logistics Park P. Ltd. (ITAT Mumbai)
- 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 Mumbai
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DCIT Vs JWC Logistics Park P. Ltd. (ITAT Mumbai)
Deduction u/s 80IA available towards FDR interest, scrap sales, EDI charges and profit from operation of ICD
ITAT Mumbai held that deduction u/s 80IA of the Income Tax Act duly available towards FDR interest, scrap sales and EDI charges and on account profit earned from the operation of Inland container Depot (ICD).
Facts- During the course of assessment proceedings the AO found that the assessee company had claimed deduction of Rs. 12,97,713/- and Rs.4,65,58,515/-, totaling to Rs.4,78,56,228/- u/s. 80IA(4) of the Act on account of FDR interest,...
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