Held that since interest income had a direct nexus with assessee’s core business of providing long-term finance for housing, infrastructure and industrial development, such income constituted eligible business income. Accordingly, a deduction under section 36(1)(viii) was allowable. (AY. 2012-13, 2014-15, 2015-16)
Housing & Urban Development Corporation Ltd. v. DCIT [2025] 128 ITR 387 (Delhi) (Trib.)
S. 36(1)(viii): Eligible business-Special reserve-Interest on FDRs and project loan bonds -Eligible business income -Deduction available.
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