https://www.taxtmi.com/caselaws?id=176297 The High Court clarified that deduction under Section 80HHE is based on "business profits" and should consider net interest income, not gross interest income. The Court determined that software purchase expenditure providing efficiency benefits but not resulting in a capital asset acquisition should be treated as revenue expenditure. Consequently, the Court dismissed the revenue's appeal, upholding relief granted to the assessee and favoring the correct interpretation of deduction and software expenditure classification. en-us Mon, 23 Jun 2014 00:00:00 +0530 Sat, 02 Jan 2016 10:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=176297 The High Court clarified that deduction under Section 80HHE is based on "business profits" and should consider net interest income, not gross interest income. The Court determined that software purchase expenditure providing efficiency benefits but not resulting in a capital asset acquisition should be treated as revenue expenditure. Consequently, the Court dismissed the revenue's appeal, upholding relief granted to the assessee and favoring the correct interpretation of deduction and software expenditure classification. Case-Laws Income Tax Mon, 23 Jun 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=176297