https://www.taxtmi.com/caselaws?id=77709 The HC allowed the Revenue's appeal, holding the Tribunal erred in allowing netting of bank fixed-deposit interest for computing the section 80HHC deduction and directing that gross interest, not net interest, must be taken into account. The court rejected the Delhi HC's reliance on similarity with section 80M and Distributors (Baroda), stressing section 80HHC's specific legislative intent to exclude non-export items and limit deduction to the formula prescribed (including the 90% treatment of excludible receipts). The question of law was answered for the Revenue and against the assessee. en-us Fri, 19 Mar 2010 00:00:00 +0530 Sat, 30 Aug 2025 13:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=77709 The HC allowed the Revenue's appeal, holding the Tribunal erred in allowing netting of bank fixed-deposit interest for computing the section 80HHC deduction and directing that gross interest, not net interest, must be taken into account. The court rejected the Delhi HC's reliance on similarity with section 80M and Distributors (Baroda), stressing section 80HHC's specific legislative intent to exclude non-export items and limit deduction to the formula prescribed (including the 90% treatment of excludible receipts). The question of law was answered for the Revenue and against the assessee. Case-Laws Income Tax Fri, 19 Mar 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=77709