Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2011 (10) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2011 (10) TMI 481 - HC - Income TaxWhether Interest on FDRs eligible for deduction under 80HHC - AO contended FDRs have been taken in earlier years and renewed in subsequent AYs for their Cash Credit accounts - no nexus with export business - Held That:- Order of AO is cryptic and does not give any detail - contention that FDRs have been made out of surplus fund is without any finding - He has not even dealt with and examined the assessee contention that the FDRs were given as security for availing cash credit limit. Such interest has “immediate nexus” with the export business - Decided in favor of assessee.
|