https://www.taxtmi.com/caselaws?id=9642 HC allowed the appeal, holding the Tribunal erred in excluding interest from trade debtors when computing profits eligible for deduction under section 80-I. The court applied the doctrine of merger to confirm that a prior HC dismissal merges subordinate orders, preventing contrary findings. It found interest on delayed sale consideration forms part of business profits for an industrial undertaking and cannot be excluded merely because labelled "interest," noting the Revenue's distinction was artificial. The Tribunal's failure to address facts and its legal reasoning were reversed; the Tribunal's order on this point is set aside and the appeal disposed of in favour of the assessee. en-us Fri, 17 Feb 2006 00:00:00 +0530 Fri, 19 Sep 2025 15:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=9642 HC allowed the appeal, holding the Tribunal erred in excluding interest from trade debtors when computing profits eligible for deduction under section 80-I. The court applied the doctrine of merger to confirm that a prior HC dismissal merges subordinate orders, preventing contrary findings. It found interest on delayed sale consideration forms part of business profits for an industrial undertaking and cannot be excluded merely because labelled "interest," noting the Revenue's distinction was artificial. The Tribunal's failure to address facts and its legal reasoning were reversed; the Tribunal's order on this point is set aside and the appeal disposed of in favour of the assessee. Case-Laws Income Tax Fri, 17 Feb 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=9642