https://www.taxtmi.com/caselaws?id=68272 The Tribunal partially allowed the assessee's appeal by reversing the rejection of books of account and the application of a higher G.P. rate. It directed the AO to treat duty difference as part of direct cost for Section 80-IB deduction. The treatment of interest on FDRs as 'Income from Other Sources' was upheld. The Tribunal also instructed the AO to calculate deductions under Sections 80HHC and 80-IB independently, ensuring total deductions do not exceed business profits. The Revenue's appeal was dismissed. en-us Fri, 29 Jun 2007 00:00:00 +0530 Sat, 03 Sep 2011 18:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=68272 The Tribunal partially allowed the assessee's appeal by reversing the rejection of books of account and the application of a higher G.P. rate. It directed the AO to treat duty difference as part of direct cost for Section 80-IB deduction. The treatment of interest on FDRs as 'Income from Other Sources' was upheld. The Tribunal also instructed the AO to calculate deductions under Sections 80HHC and 80-IB independently, ensuring total deductions do not exceed business profits. The Revenue's appeal was dismissed. Case-Laws Income Tax Fri, 29 Jun 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=68272