https://www.taxtmi.com/caselaws?id=250609 The Supreme Court clarified that turnover for deduction under Section 80HHC should only include sale proceeds of goods related to the business's core activities. Receipts from items like scrap or raw materials should not be included. The court also ruled that the 90% reduction for interest income under Section 80HHC applies to specific receipts included in profits, not the entire amount. Additionally, expenses in foreign currency for technical services related to software exports should not be excluded from turnover calculation. The High Court dismissed the Revenue's appeal, aligning with established legal principles and benefiting the assessee in all issues raised. en-us Fri, 01 Aug 2014 00:00:00 +0530 Wed, 20 Aug 2014 08:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=250609 The Supreme Court clarified that turnover for deduction under Section 80HHC should only include sale proceeds of goods related to the business's core activities. Receipts from items like scrap or raw materials should not be included. The court also ruled that the 90% reduction for interest income under Section 80HHC applies to specific receipts included in profits, not the entire amount. Additionally, expenses in foreign currency for technical services related to software exports should not be excluded from turnover calculation. The High Court dismissed the Revenue's appeal, aligning with established legal principles and benefiting the assessee in all issues raised. Case-Laws Income Tax Fri, 01 Aug 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=250609