The AO disallowed the disallowance under section 80IA(4)(iii) of the Act. CIT(A) allowed the claim. On appeal the Tribunal held that notified undertaking and industrial park was transferred to the assessee partnership firm as capital contribution. As per the provisions of S. 80IA(12), if the undertaking is transferred and the said transfer is not by amalgamation or demerger, the benefit is available to the transferee undertaking. Transfer contemplated under S. 80IA(4)(iii) is qua the undertaking and not qua the assessee. As per para 9(4) of the Industrial Park Scheme, 2002 and para 10 of CBDT notification, if there is a transfer of the undertaking, the transferor and transferee should jointly intimate to the DIPP which is duly complied with. Therefore  the transferee undertaking to claim deduction under s. 80-IA(4)(iii) for the remaining period. Proviso to S. 80-IA(12) applies only when there is a transfer of operation and maintenance of industrial park. On the facts of the case the entire undertaking which developed the industrial park has been transferred to the assessee and not merely the operation and maintenance. Order of CIT(A) is affirmed. Interest on fixed deposits is  not eligible deduction u/s 80IA. Interest income is  assessable as income from other sources, however  the interest expenditure for earning of interest is allowable as deduction.  (AY.  2012-13)