https://www.taxtmi.com/caselaws?id=331179 The High Court allowed the appeal challenging the Income Tax Appellate Tribunal's order for Assessment Year 2001-2002, ruling in favor of the assessee regarding the treatment of interest income for deduction under section 80HHC. The Court directed the Assessing Officer to exclude a specific amount of the net interest balance for the deduction calculation, based on previous decisions. The Court disposed of the matter, addressing cross objections and indicating a referral to a larger Bench for potential adjustments in line with a Supreme Court decision. en-us Tue, 09 Aug 2016 00:00:00 +0530 Tue, 16 Aug 2016 11:18:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=331179 The High Court allowed the appeal challenging the Income Tax Appellate Tribunal's order for Assessment Year 2001-2002, ruling in favor of the assessee regarding the treatment of interest income for deduction under section 80HHC. The Court directed the Assessing Officer to exclude a specific amount of the net interest balance for the deduction calculation, based on previous decisions. The Court disposed of the matter, addressing cross objections and indicating a referral to a larger Bench for potential adjustments in line with a Supreme Court decision. Case-Laws Income Tax Tue, 09 Aug 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=331179