HC on allowability of deduction U/s. 10A / 10B on Interest Income

CIT Vs. Hewlett Packard Global Soft Ltd (Karnataka High Court) (Full Bench)

HC held that assessee was entitled to 100% exemption or deduction under Section 10-A of the Act in respect of the interest income earned by it on the deposits made by it with the Banks in the ordinary course of its business and also interest earned by it from the staff loans and such interest income would not be taxable as ‘Please become a Premium member. If you are already a Premium member, login here to access the full content.