https://www.taxtmi.com/caselaws?id=178858 The court upheld the Income-tax Appellate Tribunal's decision that the assessee could reduce interest paid from interest received for deduction under section 80HHC(4A) of the Income-tax Act, 1961. The court found no reason to interfere with the Tribunal's order as the Departmental Representative did not challenge the Tribunal's finding. Additionally, the court upheld the classification of interest income as business income since the Assessing Officer's decision was not questioned subsequently. The appeal was dismissed, maintaining the Tribunal's decision on both issues. en-us Fri, 16 Mar 2007 00:00:00 +0530 Mon, 15 Feb 2016 11:04:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=178858 The court upheld the Income-tax Appellate Tribunal's decision that the assessee could reduce interest paid from interest received for deduction under section 80HHC(4A) of the Income-tax Act, 1961. The court found no reason to interfere with the Tribunal's order as the Departmental Representative did not challenge the Tribunal's finding. Additionally, the court upheld the classification of interest income as business income since the Assessing Officer's decision was not questioned subsequently. The appeal was dismissed, maintaining the Tribunal's decision on both issues. Case-Laws Income Tax Fri, 16 Mar 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=178858