https://www.taxtmi.com/caselaws?id=330771 The Supreme Court clarified in various cases that deduction under Section 80HHC cannot be claimed in case of negative profit, only net interest should be considered for the deduction, book profits under Section 115JA should not reduce the amount deductible under Section 80HHC, and interest income cannot be included in eligible profits for deductions under Sections 80HH and 80IA. The court ruled in favor of the revenue in the last two issues and in favor of the assessee in the first two, disposing of the appeals accordingly. en-us Wed, 27 Jul 2016 00:00:00 +0530 Fri, 05 Aug 2016 17:15:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=330771 The Supreme Court clarified in various cases that deduction under Section 80HHC cannot be claimed in case of negative profit, only net interest should be considered for the deduction, book profits under Section 115JA should not reduce the amount deductible under Section 80HHC, and interest income cannot be included in eligible profits for deductions under Sections 80HH and 80IA. The court ruled in favor of the revenue in the last two issues and in favor of the assessee in the first two, disposing of the appeals accordingly. Case-Laws Income Tax Wed, 27 Jul 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=330771