https://www.taxtmi.com/caselaws?id=254995 The High Court ruled in favor of the assessee on various tax issues, including the taxability of income from Advance License Benefit Receivable and the Pass Book Scheme. The Court allowed the premium of leasehold land as revenue expenditure and permitted deduction under section 80M without management expenses. Additionally, the Court allowed the set off of interest expenditure against interest income for deduction under section 80HHC. The Court also addressed the levy of interest under section 234B, remitting the matter for fresh adjudication in line with legislative amendments. en-us Tue, 11 Nov 2014 00:00:00 +0530 Tue, 06 Jan 2015 10:13:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=254995 The High Court ruled in favor of the assessee on various tax issues, including the taxability of income from Advance License Benefit Receivable and the Pass Book Scheme. The Court allowed the premium of leasehold land as revenue expenditure and permitted deduction under section 80M without management expenses. Additionally, the Court allowed the set off of interest expenditure against interest income for deduction under section 80HHC. The Court also addressed the levy of interest under section 234B, remitting the matter for fresh adjudication in line with legislative amendments. Case-Laws Income Tax Tue, 11 Nov 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=254995