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2016 (2) TMI 300 - AT - Income TaxDeduction under section 10A - Interest on Fixed Deposits - Held that:- As the interest earned from fixed deposits kept apart for the purposes of business is to be treated under the head ‘Income from Business’ and not under the head ‘Income from other sources’ and is to be treated as profits of the business while calculating the deduction under section 10A of the Act. Exchange difference on EEFC - Held that:- Following the decision of the Coordinate Bench in assessee’s own case for A.Y. 2009-10 we hold that the amount is not interest earned but gain on fluctuation of foreign exchange, which are to be taxed under the head ‘Income from Business’. We direct the AO to tax the exchange gain under the head ‘Income from Business’ and accordingly allow the assessee deduction under section 10A of the Act. Deduction u/s. 10A from Book Profit u/s. 115JB - Held that:- Exclusion of exemption/deduction allowable under section 10A of the Act from the Book Profits taxable under section 115JB directed
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