https://www.taxtmi.com/caselaws?id=3169 The court allowed depreciation claimed on machinery not used during the assessment year, ruling in favor of the assessee. Sales Tax and Central Sales Tax were excluded from total turnover for deduction under Section 80HHC, following precedent in favor of the assessee. However, interest income from FDRs was not considered part of business income for deduction under Section 80HHC, with the court ruling in favor of the revenue in this instance. The court's judgment favored the assessee in the first two issues and the revenue in the third issue, based on legal precedents and statutory interpretations. en-us Wed, 02 May 2007 00:00:00 +0530 Wed, 30 Jul 2008 09:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=3169 The court allowed depreciation claimed on machinery not used during the assessment year, ruling in favor of the assessee. Sales Tax and Central Sales Tax were excluded from total turnover for deduction under Section 80HHC, following precedent in favor of the assessee. However, interest income from FDRs was not considered part of business income for deduction under Section 80HHC, with the court ruling in favor of the revenue in this instance. The court's judgment favored the assessee in the first two issues and the revenue in the third issue, based on legal precedents and statutory interpretations. Case-Laws Income Tax Wed, 02 May 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=3169