https://www.taxtmi.com/caselaws?id=180572 Deduction under section 36(1)(viia) is to be computed on total income before Chapter VI-A deductions, so the deduction under section 36(1)(viii) could not be ignored in fixing the base; this point went against the assessee. Deduction under section 36(1)(viii) was confined to profits directly derived from eligible long-term finance, so receipts such as interest on deposits, lease rentals, consultancy and other charges, dividends, sale gains, miscellaneous income and similar ancillary items were excluded; the debatable treatment of interest on debentures required factual verification and was remitted. The bad-debt disallowance under the interaction of sections 36(1)(vii) and 36(1)(viia) was not sustainable in full, and was therefore allowed only in part. en-us Wed, 06 Jan 2010 00:00:00 +0530 Tue, 29 Mar 2016 18:50:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=180572 Deduction under section 36(1)(viia) is to be computed on total income before Chapter VI-A deductions, so the deduction under section 36(1)(viii) could not be ignored in fixing the base; this point went against the assessee. Deduction under section 36(1)(viii) was confined to profits directly derived from eligible long-term finance, so receipts such as interest on deposits, lease rentals, consultancy and other charges, dividends, sale gains, miscellaneous income and similar ancillary items were excluded; the debatable treatment of interest on debentures required factual verification and was remitted. The bad-debt disallowance under the interaction of sections 36(1)(vii) and 36(1)(viia) was not sustainable in full, and was therefore allowed only in part. Case-Laws Income Tax Wed, 06 Jan 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=180572