https://www.taxtmi.com/caselaws?id=182443 The Revenue's appeal against the disallowance of the assessee's claim under s. 80HHC of the IT Act for income from interest and rent for the assessment year 1990-91 was dismissed. The Tribunal upheld the CIT(A)'s decision, stating that the amounts were part of the assessee's business income and could be excluded only from 1st April, 1992, following the insertion of sub-clause (baa) to the Explanation of s. 80HHC. The Tribunal found that the interest and rent income were related to the normal business activities of the assessee, in line with a Supreme Court decision and the legislative intent to exclude such income from s. 80HHC benefits from the specified date. en-us Mon, 16 Jul 2001 00:00:00 +0530 Tue, 10 May 2016 17:14:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=182443 The Revenue's appeal against the disallowance of the assessee's claim under s. 80HHC of the IT Act for income from interest and rent for the assessment year 1990-91 was dismissed. The Tribunal upheld the CIT(A)'s decision, stating that the amounts were part of the assessee's business income and could be excluded only from 1st April, 1992, following the insertion of sub-clause (baa) to the Explanation of s. 80HHC. The Tribunal found that the interest and rent income were related to the normal business activities of the assessee, in line with a Supreme Court decision and the legislative intent to exclude such income from s. 80HHC benefits from the specified date. Case-Laws Income Tax Mon, 16 Jul 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=182443