https://www.taxtmi.com/caselaws?id=266007 The court allowed the appeal, ruling in favor of the assessee on both issues. It held that the subsidy received before the insertion of Explanation 10 to section 43(1) could not reduce the cost of assets. Additionally, the court directed the Assessing Officer to recompute the deduction under section 80HHC by excluding only the net interest income from the business profits. en-us Mon, 05 Oct 2015 00:00:00 +0530 Fri, 05 Aug 2022 18:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=266007 The court allowed the appeal, ruling in favor of the assessee on both issues. It held that the subsidy received before the insertion of Explanation 10 to section 43(1) could not reduce the cost of assets. Additionally, the court directed the Assessing Officer to recompute the deduction under section 80HHC by excluding only the net interest income from the business profits. Case-Laws Income Tax Mon, 05 Oct 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=266007