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2010 (11) TMI 340 - HC - Income TaxDeduction u/s 80IB / 80I - Interest income from Bank deposits - Held by Division Bench in the decision, Commissioner of Income tax vs. Pandian Chemicals Ltd., when the immediate and effective source of interest is the deposit and not the business of the respondent undertaking viz., the manufacture of chimneys and furnace, it will have to held that the respondent is not entitled to claim benefits as provided under Section 80-I of the Act - Therefore, answered in favour of the Revenue.
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