https://www.taxtmi.com/caselaws?id=118468 The tribunal ruled in favor of the assessee, allowing deductions under sections 80HH and 80-I on consultancy charges and interest income as business income. It held that consultancy charges derived from the industrial undertaking were eligible for deductions, emphasizing the unique products developed through research. The tribunal directed a reevaluation of interest income treatment based on relevant judicial decisions and instructed the Assessing Officer to independently compute deductions under section 80-I. The appeals were partially allowed for statistical purposes, maintaining certain decisions and providing directions for further assessment on other issues. en-us Tue, 28 Feb 2006 00:00:00 +0530 Tue, 31 Jul 2012 23:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=118468 The tribunal ruled in favor of the assessee, allowing deductions under sections 80HH and 80-I on consultancy charges and interest income as business income. It held that consultancy charges derived from the industrial undertaking were eligible for deductions, emphasizing the unique products developed through research. The tribunal directed a reevaluation of interest income treatment based on relevant judicial decisions and instructed the Assessing Officer to independently compute deductions under section 80-I. The appeals were partially allowed for statistical purposes, maintaining certain decisions and providing directions for further assessment on other issues. Case-Laws Income Tax Tue, 28 Feb 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=118468