https://www.taxtmi.com/caselaws?id=175718 The High Court held that interest income from surplus funds, unless directly linked to business operations, should be treated as "income from other sources" and not included in business profits for Section 80HHC deductions. The insertion of clause (baa) clarified that 90% of such incomes should be excluded from business profits for deduction calculations. The Tribunal's decision to include interest income as part of business profits was deemed incorrect, and the appeals were allowed in favor of the revenue. en-us Thu, 03 Feb 2011 00:00:00 +0530 Thu, 03 Dec 2015 16:28:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=175718 The High Court held that interest income from surplus funds, unless directly linked to business operations, should be treated as "income from other sources" and not included in business profits for Section 80HHC deductions. The insertion of clause (baa) clarified that 90% of such incomes should be excluded from business profits for deduction calculations. The Tribunal's decision to include interest income as part of business profits was deemed incorrect, and the appeals were allowed in favor of the revenue. Case-Laws Income Tax Thu, 03 Feb 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=175718