https://www.taxtmi.com/caselaws?id=208850 The Court ruled in favor of the Revenue in a tax case appeal, holding that only the net interest should be considered for the purpose of 90% exclusion from business profits under Section 80HHC. Additionally, the Court determined that the loss sustained by the Cigarette division should not be ignored when computing business profits for the same deduction. The Tribunal's decision to exclude the loss was overturned, emphasizing that both profits and losses must be considered, as specified in the relevant provisions of Section 80HHC. The Court's decision favored the Revenue in both issues, resulting in the Tax Case Appeals being allowed without costs awarded. en-us Thu, 29 Sep 2011 00:00:00 +0530 Sat, 05 Dec 2015 18:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=208850 The Court ruled in favor of the Revenue in a tax case appeal, holding that only the net interest should be considered for the purpose of 90% exclusion from business profits under Section 80HHC. Additionally, the Court determined that the loss sustained by the Cigarette division should not be ignored when computing business profits for the same deduction. The Tribunal's decision to exclude the loss was overturned, emphasizing that both profits and losses must be considered, as specified in the relevant provisions of Section 80HHC. The Court's decision favored the Revenue in both issues, resulting in the Tax Case Appeals being allowed without costs awarded. Case-Laws Income Tax Thu, 29 Sep 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=208850