https://www.taxtmi.com/caselaws?id=253839 For exclusion of ineligible receipts from business profits under Sections 80HH and 80I, the net amount and not the gross receipt is to be removed from the deduction base, so the expenditure incurred to earn the receipt must be taken into account. Applying the netting principle, interest income from bank deposits and IDBI could be adjusted against related interest expenses when computing the exclusion. The article therefore states that the netting approach governs excluded interest receipts, although the deduction claim on the disputed interest income was not accepted. en-us Tue, 11 Nov 2014 00:00:00 +0530 Fri, 05 Dec 2014 19:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=253839 For exclusion of ineligible receipts from business profits under Sections 80HH and 80I, the net amount and not the gross receipt is to be removed from the deduction base, so the expenditure incurred to earn the receipt must be taken into account. Applying the netting principle, interest income from bank deposits and IDBI could be adjusted against related interest expenses when computing the exclusion. The article therefore states that the netting approach governs excluded interest receipts, although the deduction claim on the disputed interest income was not accepted. Case-Laws Income Tax Tue, 11 Nov 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=253839