Interest on deposits for availing bank guarantee is business income includible in 'book profit' for purposes of section 40(b)

IT : Interest on deposits for availing bank guarantee is business income includible in 'book profit' for purposes of section 40(b)



[2012] 20 taxmann.com 458 (Cochin - Trib.)
IN THE ITAT COCHIN BENCH

Solvents & Chemicals

v.

Assistant Commissioner of Income-tax, Circle 2(2), Ernakulam*