https://www.taxtmi.com/caselaws?id=120735 The Tribunal ruled in favor of the assessee on multiple issues related to tax deductions and profit computations. It directed the AO to exclude 90% of net interest for section 80HHC, include taxable income from the 100% EOU in business profits, and exclude excise duty from total turnover. The Tribunal upheld the allocation of actual expenses for the 100% EOU and included interest income from surplus funds in business profits for section 10B. Additionally, it allowed the deduction of prior period expenses, instructing the AO to recompute deductions and profits according to these findings. The Department's appeal was dismissed. en-us Fri, 28 Dec 2007 00:00:00 +0530 Thu, 25 Jan 2024 10:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=120735 The Tribunal ruled in favor of the assessee on multiple issues related to tax deductions and profit computations. It directed the AO to exclude 90% of net interest for section 80HHC, include taxable income from the 100% EOU in business profits, and exclude excise duty from total turnover. The Tribunal upheld the allocation of actual expenses for the 100% EOU and included interest income from surplus funds in business profits for section 10B. Additionally, it allowed the deduction of prior period expenses, instructing the AO to recompute deductions and profits according to these findings. The Department's appeal was dismissed. Case-Laws Income Tax Fri, 28 Dec 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=120735