https://www.taxtmi.com/caselaws?id=331386 The Court ruled in favor of the appellant on the interpretation of Section 80HHC, excluding hiring and operating charges from business profits. It was held that only net interest should be deducted for taxation purposes. However, the Court sided with the Revenue on the automatic levy of interest under Sections 234A, 234B, and 234C. Additionally, the application of Section 234D with retrospective effect favored the Revenue. The appeal was disposed of with varying outcomes based on legal principles and precedent judgments. en-us Fri, 12 Aug 2016 00:00:00 +0530 Sat, 20 Aug 2016 14:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=331386 The Court ruled in favor of the appellant on the interpretation of Section 80HHC, excluding hiring and operating charges from business profits. It was held that only net interest should be deducted for taxation purposes. However, the Court sided with the Revenue on the automatic levy of interest under Sections 234A, 234B, and 234C. Additionally, the application of Section 234D with retrospective effect favored the Revenue. The appeal was disposed of with varying outcomes based on legal principles and precedent judgments. Case-Laws Income Tax Fri, 12 Aug 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=331386