CIT v. Apollo Tyres Ltd. (No. 3) (2019) 416 ITR 554 (Ker.)(HC)

S. 80IA : Industrial undertakings–Interest on bank deposits do not constitute business income for claiming deduction.

Court held that the disputed income was income generated by way of interest from the amounts deposited by the assessee elsewhere and had no relation to the business activity of the assessee do not constitute business income for claiming deduction. (AY. 1994 -95)