https://www.taxtmi.com/caselaws?id=256365 The High Court upheld the Tribunal's decision, affirming that net interest should be considered for the 90% deduction under Clause (baa) of Explanation to Section 80HHC. It clarified that interest income and expenditure should be treated consistently in profit computations. The Court ruled that interest from deposits unrelated to business activities is classified as income from other sources. The appeals were dismissed, in line with the Supreme Court's decision in ACG Associated Capsules Pvt. Ltd. vs. Commissioner of Income Tax, ensuring uniformity in the treatment of interest for profit calculations and deductions. en-us Thu, 27 Nov 2014 00:00:00 +0530 Wed, 11 Feb 2015 11:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=256365 The High Court upheld the Tribunal's decision, affirming that net interest should be considered for the 90% deduction under Clause (baa) of Explanation to Section 80HHC. It clarified that interest income and expenditure should be treated consistently in profit computations. The Court ruled that interest from deposits unrelated to business activities is classified as income from other sources. The appeals were dismissed, in line with the Supreme Court's decision in ACG Associated Capsules Pvt. Ltd. vs. Commissioner of Income Tax, ensuring uniformity in the treatment of interest for profit calculations and deductions. Case-Laws Income Tax Thu, 27 Nov 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=256365