Held that the interest income is income from business eligible for deduction under section 10A of the Act. That deduction under section 10A in respect of foreign exchange gain on Exchange Earners’ Foreign Currency Account is allowable.(AY.2010-11)
Tech Mahindra Business Services Ltd. v. ACIT (2024)112 ITR 21 (SN)(Mum)(Trib)
S. 10A : Free trade zone-Eligible profits-Interest income-Income from business eligible for deduction-Foreign exchange gain on exchange earners’ foreign currency account-Allowable.