Delhi HC Allows Netting of Interest Income for Deduction Calculation

The Delhi HC upheld the ITAT decision on deduction under section 80HHC(1) of the Income-tax Act, 1961. The court ruled in favor of the assessee, allowing netting of interest income for the deduction calculation. The revenue's appeal was dismissed.

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The Delhi High Court upheld the decision of the Income-tax Appellate Tribunal regarding the deduction under section 80HHC(1) of the Income-tax Act, 1961. The court ruled in favor of the assessee, allowing netting of interest income for the deduction calculation. The appeal by the revenue was dismissed.

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