https://www.taxtmi.com/caselaws?id=271017 The court clarified that income chargeable under Section 41(1) should be excluded under clause (baa) of Section 80HHC for computing deductions. The court emphasized that independent incomes not derived from export activities should be excluded from business profits under clause (baa). It was ruled that only the net interest included in business profits should be considered for exclusion under clause (baa). The appeal was dismissed with this clarification, and parties were to bear their own costs. en-us Mon, 30 Nov 2015 00:00:00 +0530 Sat, 23 Jan 2016 10:31:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=271017 The court clarified that income chargeable under Section 41(1) should be excluded under clause (baa) of Section 80HHC for computing deductions. The court emphasized that independent incomes not derived from export activities should be excluded from business profits under clause (baa). It was ruled that only the net interest included in business profits should be considered for exclusion under clause (baa). The appeal was dismissed with this clarification, and parties were to bear their own costs. Case-Laws Income Tax Mon, 30 Nov 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=271017