DCIT, TIRUPPUR vs. M/S. DOLLAR APPARELS, TIRUPPUR
In the result, the appeal of the revenue is allowed
ITA 2040/CHNY/2016[2013-14]Status: DisposedITAT Chennai21 Oct 2016AY 2013-14
Bench: Shri N.R.S. Ganesan & Shri D.S. Sunder Singh
For Appellant: Shri Shiva Srinivas, JCITFor Respondent: Shri T.Banusekar, C.A
Section 80ASection 80ESection 80I
capital asset in the balance
sheet. Therefore, the interest income was shown as business income in
the profit and loss account. The assessing officer after considering the
claim of the assessee found that the interest from the fixed deposit has
to be classified as income from other sources. Hence, the assessee is
not eligible for deduction under Section 80IA
