https://www.taxtmi.com/caselaws?id=203350 The Court upheld the decision of the ITAT, ruling that the interest income earned from banks and intercorporate deposits should be considered as business income for the purpose of deduction under Section 80HHC. The Court found that the income was part of the Assessee's business activity and not related to export activities, thus affirming the taxation of interest income as business income. The appeal challenging this taxation was dismissed, with the Court emphasizing that the lower authorities' findings were based on evidence and in accordance with relevant legal provisions. en-us Thu, 23 Dec 2010 00:00:00 +0530 Mon, 31 Oct 2011 11:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=203350 The Court upheld the decision of the ITAT, ruling that the interest income earned from banks and intercorporate deposits should be considered as business income for the purpose of deduction under Section 80HHC. The Court found that the income was part of the Assessee's business activity and not related to export activities, thus affirming the taxation of interest income as business income. The appeal challenging this taxation was dismissed, with the Court emphasizing that the lower authorities' findings were based on evidence and in accordance with relevant legal provisions. Case-Laws Income Tax Thu, 23 Dec 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=203350