https://www.taxtmi.com/caselaws?id=118891 The Tribunal allowed the assessee's appeal partly, directing the Assessing Officer to allow deductions and exclusions as follows: 1. Deduction under section 36(1)(iii) for interest paid on borrowed funds for business expansion; 2. Exclusion of excise duty, CST, and ST from total turnover for section 80HHC calculation; 3. Exclusion of 90% of net interest for section 80HHC calculation; and 5. Disallowance of interest on loans made to sister concerns was not justified and deletion was directed. The ground regarding consideration of negative figure in section 80HHC(3) proviso calculation was dismissed as not pressed. en-us Fri, 19 Aug 2005 00:00:00 +0530 Fri, 06 Jul 2012 15:02:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=118891 The Tribunal allowed the assessee's appeal partly, directing the Assessing Officer to allow deductions and exclusions as follows: 1. Deduction under section 36(1)(iii) for interest paid on borrowed funds for business expansion; 2. Exclusion of excise duty, CST, and ST from total turnover for section 80HHC calculation; 3. Exclusion of 90% of net interest for section 80HHC calculation; and 5. Disallowance of interest on loans made to sister concerns was not justified and deletion was directed. The ground regarding consideration of negative figure in section 80HHC(3) proviso calculation was dismissed as not pressed. Case-Laws Income Tax Fri, 19 Aug 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=118891