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Income Tax - Highlights / Catch Notes

Home Highlights July 2022 Year 2022 This

Addition made on account of interest on fixed deposits - the ...

Income Tax

July 18, 2022

Addition made on account of interest on fixed deposits - the business nexus is clearly proved. Under these circumstances, the interest income earned on fixed deposits should have to be construed as inextricably linked with the project and should be treated as recovery of part of the project cost and cannot be treated as income from other sources. - AT

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