itat
Aug 11
S.
57(iii): Interest paid on a loan taken to avoid premature encashment of a fixed
deposit is deductible against the interest earned on the fixed deposit
Ace Multi Axes Systems Ltd vs. DCIT (Karnataka High Court)
S. 80-IB: If the undertaking satisfies the
conditions for eligibility in the initial year, it must get deduction for 10
years & non-compliance in a subsequent year is irrelevant
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