https://www.taxtmi.com/caselaws?id=67428 The Tribunal upheld the CIT(A)'s decisions to allow deductions under sections 80HH and 80-I based on net interest income. It also ruled in favor of the assessee by deleting the disallowance of festival expenses and expenses for presentation articles. The disallowance of traveling expenses for the director's wife was overturned, with the Tribunal agreeing that the expenses were incurred for business purposes. The majority view was to exclude net interest income for deductions under sections 80HH and 80-I, dismissing the Revenue's appeals and allowing the assessee's appeals. en-us Fri, 22 Aug 2008 00:00:00 +0530 Mon, 13 Jun 2011 17:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=67428 The Tribunal upheld the CIT(A)'s decisions to allow deductions under sections 80HH and 80-I based on net interest income. It also ruled in favor of the assessee by deleting the disallowance of festival expenses and expenses for presentation articles. The disallowance of traveling expenses for the director's wife was overturned, with the Tribunal agreeing that the expenses were incurred for business purposes. The majority view was to exclude net interest income for deductions under sections 80HH and 80-I, dismissing the Revenue's appeals and allowing the assessee's appeals. Case-Laws Income Tax Fri, 22 Aug 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=67428