https://www.taxtmi.com/caselaws?id=345901 The court held that the interest income earned by the assessee on fixed deposits pledged for availing credit facility for export is deductible from the income computed under the head "profits and gains of business and profession." This deduction is in addition to the permissible deduction under Section 80HHC(1) for computing total income related to export business. The order of the Income Tax Appellate Tribunal dated 28.12.2006 was modified accordingly, and the appeal was allowed to this extent. en-us Fri, 28 Jul 2017 00:00:00 +0530 Sat, 29 Jul 2017 07:16:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=345901 The court held that the interest income earned by the assessee on fixed deposits pledged for availing credit facility for export is deductible from the income computed under the head "profits and gains of business and profession." This deduction is in addition to the permissible deduction under Section 80HHC(1) for computing total income related to export business. The order of the Income Tax Appellate Tribunal dated 28.12.2006 was modified accordingly, and the appeal was allowed to this extent. Case-Laws Income Tax Fri, 28 Jul 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=345901