https://www.taxtmi.com/caselaws?id=261052 The High Court held that the classification of interest income from fixed deposits for deduction under Section 80HHE of the Income Tax Act was debatable and not suitable for rectification under Section 154. The Court emphasized the contentious nature of the issue and dismissed the revenue's appeal, affirming the decisions of the lower authorities. Additionally, the Court found that the proceedings under Section 154 were invalid as the Assessing Officer's initial view was plausible, and multiple interpretations were possible, leading to the dismissal of the revenue's appeal. en-us Tue, 09 Jun 2015 00:00:00 +0530 Wed, 01 Jul 2015 06:46:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=261052 The High Court held that the classification of interest income from fixed deposits for deduction under Section 80HHE of the Income Tax Act was debatable and not suitable for rectification under Section 154. The Court emphasized the contentious nature of the issue and dismissed the revenue's appeal, affirming the decisions of the lower authorities. Additionally, the Court found that the proceedings under Section 154 were invalid as the Assessing Officer's initial view was plausible, and multiple interpretations were possible, leading to the dismissal of the revenue's appeal. Case-Laws Income Tax Tue, 09 Jun 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=261052