https://www.taxtmi.com/caselaws?id=182526 The High Court found that the interest income from fixed deposits was not business income, leading to a negative ruling on the deduction of interest paid and received under section 80HHC of the Income-tax Act. The Court set aside the ITAT's decision and directed the matter to be reassessed by the Assessing Officer. Consequently, the appeal was allowed in favor of the revenue. en-us Fri, 19 Jan 2007 00:00:00 +0530 Thu, 12 May 2016 16:01:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=182526 The High Court found that the interest income from fixed deposits was not business income, leading to a negative ruling on the deduction of interest paid and received under section 80HHC of the Income-tax Act. The Court set aside the ITAT's decision and directed the matter to be reassessed by the Assessing Officer. Consequently, the appeal was allowed in favor of the revenue. Case-Laws Income Tax Fri, 19 Jan 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=182526