https://www.taxtmi.com/caselaws?id=117854 The Tribunal upheld the reduction of rebate claimed under section 80HHC, following the Special Bench's decision in Lalsons Enterprises case. It clarified that only 90% of net interest, not gross interest, should be deducted. The legitimacy of reopening assessment was not addressed due to lack of argument. The Tribunal confirmed interest charges under sections 234B and 234C, citing precedent. The appeals were disposed of, emphasizing adherence to judicial precedents and interpretation of tax provisions. en-us Thu, 30 Sep 2004 00:00:00 +0530 Tue, 26 Jun 2012 18:55:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=117854 The Tribunal upheld the reduction of rebate claimed under section 80HHC, following the Special Bench's decision in Lalsons Enterprises case. It clarified that only 90% of net interest, not gross interest, should be deducted. The legitimacy of reopening assessment was not addressed due to lack of argument. The Tribunal confirmed interest charges under sections 234B and 234C, citing precedent. The appeals were disposed of, emphasizing adherence to judicial precedents and interpretation of tax provisions. Case-Laws Income Tax Thu, 30 Sep 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=117854