https://www.taxtmi.com/caselaws?id=10056 The High Court of Madras upheld the decision of the Income-tax Appellate Tribunal in an appeal regarding the assessment year 1988-89. The court ruled that interest on temporary deposits, interest on deposits for Maruti car allotment, and dividends received from the company should be excluded when computing income from eligible business under section 32AB of the Income-tax Act. Following established legal principles and precedents, the court affirmed that these items are not to be considered in the income computation process, aligning with statutory provisions and case law. en-us Mon, 12 Jul 2004 00:00:00 +0530 Mon, 06 Jul 2009 18:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=10056 The High Court of Madras upheld the decision of the Income-tax Appellate Tribunal in an appeal regarding the assessment year 1988-89. The court ruled that interest on temporary deposits, interest on deposits for Maruti car allotment, and dividends received from the company should be excluded when computing income from eligible business under section 32AB of the Income-tax Act. Following established legal principles and precedents, the court affirmed that these items are not to be considered in the income computation process, aligning with statutory provisions and case law. Case-Laws Income Tax Mon, 12 Jul 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=10056