Tag Archives: Section 10B

Interest on FDR under lien with Bank for facilitating letter of credit qualify for deduction under Section 10B

By | January 31, 2016

  Held The interest on FDR, the Court has been shown a note of the balance sheet of the Assessee [which was placed before the AO] which clearly states that “fixed deposit receipts (including accrued interest) valuing Rs. 15,05,875 are under lien with Bank of India for facilitating the letter of credit and bank guarantee… Read More »