https://www.taxtmi.com/caselaws?id=201633 The High Court dismissed the appeal in a tax case involving deductions under section 80HHC and the invocation of section 50C of the Income-tax Act. The court upheld the exclusion of 90% of gross interest and commission for deduction under section 80HHC, citing relevant precedents. Additionally, the court supported the Assessing Officer's decision to reduce the assessee's capital loss based on values determined by stamp duty authorities under section 50C. The judgment stressed the importance of adhering to statutory provisions and legal precedents in tax matters, affirming the decisions made by the lower authorities. en-us Mon, 11 Aug 2008 00:00:00 +0530 Sat, 29 Dec 2012 16:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=201633 The High Court dismissed the appeal in a tax case involving deductions under section 80HHC and the invocation of section 50C of the Income-tax Act. The court upheld the exclusion of 90% of gross interest and commission for deduction under section 80HHC, citing relevant precedents. Additionally, the court supported the Assessing Officer's decision to reduce the assessee's capital loss based on values determined by stamp duty authorities under section 50C. The judgment stressed the importance of adhering to statutory provisions and legal precedents in tax matters, affirming the decisions made by the lower authorities. Case-Laws Income Tax Mon, 11 Aug 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=201633