https://www.taxtmi.com/caselaws?id=212824 The case involved the interpretation of Section 80HHC of the Income Tax Act, 1961 regarding the treatment of interest income on FDRs and EDP receipts for deduction calculations. The Supreme Court ruled in favor of the assessee, stating that both interest income and EDP receipts should be considered as part of business profits for Section 80HHC calculations. The court emphasized that receipts like interest and rent must be included in business profits to be eligible for deduction, ensuring only relevant receipts forming part of business profits are considered. The appeal was disposed of with no costs awarded. en-us Thu, 19 Apr 2012 00:00:00 +0530 Wed, 25 Apr 2012 15:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=212824 The case involved the interpretation of Section 80HHC of the Income Tax Act, 1961 regarding the treatment of interest income on FDRs and EDP receipts for deduction calculations. The Supreme Court ruled in favor of the assessee, stating that both interest income and EDP receipts should be considered as part of business profits for Section 80HHC calculations. The court emphasized that receipts like interest and rent must be included in business profits to be eligible for deduction, ensuring only relevant receipts forming part of business profits are considered. The appeal was disposed of with no costs awarded. Case-Laws Income Tax Thu, 19 Apr 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=212824