https://www.taxtmi.com/caselaws?id=76518 The court held that deductions under section 80HHC should be made from the profits computed under the head "Profits and gains of business or profession," rejecting the inclusion of net interest in the computation. The Tribunal's incorporation of net interest was deemed erroneous as it was not specified in the statute. The court emphasized that interest income should not be netted for deduction under section 80HHC, setting aside the Tribunal's order and clarifying the interpretation of the provision. en-us Tue, 04 Sep 2007 00:00:00 +0530 Wed, 30 Jun 2010 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=76518 The court held that deductions under section 80HHC should be made from the profits computed under the head "Profits and gains of business or profession," rejecting the inclusion of net interest in the computation. The Tribunal's incorporation of net interest was deemed erroneous as it was not specified in the statute. The court emphasized that interest income should not be netted for deduction under section 80HHC, setting aside the Tribunal's order and clarifying the interpretation of the provision. Case-Laws Income Tax Tue, 04 Sep 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=76518