https://www.taxtmi.com/caselaws?id=3165 The court ruled in favor of the assessee on the distribution of gift items as business expenditure, emphasizing the promotion of goodwill. However, the court upheld the disallowance of interest on interest-free advances for non-business purposes. Regarding the treatment of interest income for deduction under Section 80HHC, the court held that interest income assessed as business income should be considered for deduction. Additionally, the court partially sided with the assessee on the inclusion of certain receipts in total turnover for deduction under Section 80HHC, allowing sales tax but excluding insurance claims and discounts. en-us Tue, 12 Sep 2006 00:00:00 +0530 Wed, 30 Jul 2008 09:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=3165 The court ruled in favor of the assessee on the distribution of gift items as business expenditure, emphasizing the promotion of goodwill. However, the court upheld the disallowance of interest on interest-free advances for non-business purposes. Regarding the treatment of interest income for deduction under Section 80HHC, the court held that interest income assessed as business income should be considered for deduction. Additionally, the court partially sided with the assessee on the inclusion of certain receipts in total turnover for deduction under Section 80HHC, allowing sales tax but excluding insurance claims and discounts. Case-Laws Income Tax Tue, 12 Sep 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=3165