https://www.taxtmi.com/caselaws?id=252118 The Supreme Court ruled in favor of the taxpayer in a case involving various tax issues. The Court allowed the interest on investment in capital work-in-progress, rejected the disallowance of interest under section 36(1)(iii), upheld the exclusion of export turnover for computing deduction under section 80HHC, and approved the computation of indirect costs proportionately for the unit engaged in export activities. However, the Court restricted the deduction under section 80HHC due to the application of section 80-IB(13) read with section 80-IA(9). The Tribunal's decisions were mostly upheld, providing specific directions for recalculations and adherence to legal principles. en-us Wed, 14 May 2014 00:00:00 +0530 Fri, 10 Oct 2014 11:37:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=252118 The Supreme Court ruled in favor of the taxpayer in a case involving various tax issues. The Court allowed the interest on investment in capital work-in-progress, rejected the disallowance of interest under section 36(1)(iii), upheld the exclusion of export turnover for computing deduction under section 80HHC, and approved the computation of indirect costs proportionately for the unit engaged in export activities. However, the Court restricted the deduction under section 80HHC due to the application of section 80-IB(13) read with section 80-IA(9). The Tribunal's decisions were mostly upheld, providing specific directions for recalculations and adherence to legal principles. Case-Laws Income Tax Wed, 14 May 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=252118