https://www.taxtmi.com/caselaws?id=204508 Karnataka HC upheld the view that for deduction under s.80HHC the 90% entitlement is to be applied to gross interest received and interest paid on loans cannot be subtracted from the gross receipts before computing the 80HHC deduction. The court followed the reasoning of the earlier HC decision which balanced attribution and allocation principles, rejected the assessee's contention to net off interest paid, and disposed of the appeal accordingly. en-us Wed, 09 Jul 2008 00:00:00 +0530 Thu, 25 Sep 2025 15:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=204508 Karnataka HC upheld the view that for deduction under s.80HHC the 90% entitlement is to be applied to gross interest received and interest paid on loans cannot be subtracted from the gross receipts before computing the 80HHC deduction. The court followed the reasoning of the earlier HC decision which balanced attribution and allocation principles, rejected the assessee's contention to net off interest paid, and disposed of the appeal accordingly. Case-Laws Income Tax Wed, 09 Jul 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=204508