https://www.taxtmi.com/caselaws?id=78612 The Tribunal ruled against the appellant, emphasizing that 90% of the interest income should be deducted from the business profit for calculating the deduction under Section 80HHC of the Income Tax Act. The Tribunal held that the benefit of netting interest is not permissible for deduction under Section 80HHC, following the precedent set in Rani Paliwal v. CIT. The Court dismissed the appeal, stating that the matter was settled against the appellant by established legal interpretation and precedent, emphasizing adherence to precedents in determining tax liabilities related to export income. en-us Fri, 27 Aug 2010 00:00:00 +0530 Fri, 03 Dec 2010 02:10:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=78612 The Tribunal ruled against the appellant, emphasizing that 90% of the interest income should be deducted from the business profit for calculating the deduction under Section 80HHC of the Income Tax Act. The Tribunal held that the benefit of netting interest is not permissible for deduction under Section 80HHC, following the precedent set in Rani Paliwal v. CIT. The Court dismissed the appeal, stating that the matter was settled against the appellant by established legal interpretation and precedent, emphasizing adherence to precedents in determining tax liabilities related to export income. Case-Laws Income Tax Fri, 27 Aug 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=78612