https://www.taxtmi.com/caselaws?id=9851 The High Court of MADRAS upheld the Tribunal's decision allowing a deduction for interest on over dues from trade debtors under sections 80HH and 80-I. The court affirmed that interest earned on belated payments had a direct nexus with the business activity, making it eligible for deduction as profits derived from the business. The appeal was dismissed as no substantial question of law arose, and no costs were awarded. en-us Fri, 03 Mar 2006 00:00:00 +0530 Thu, 02 Jul 2009 10:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=9851 The High Court of MADRAS upheld the Tribunal's decision allowing a deduction for interest on over dues from trade debtors under sections 80HH and 80-I. The court affirmed that interest earned on belated payments had a direct nexus with the business activity, making it eligible for deduction as profits derived from the business. The appeal was dismissed as no substantial question of law arose, and no costs were awarded. Case-Laws Income Tax Fri, 03 Mar 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=9851