https://www.taxtmi.com/caselaws?id=11769 The court ruled in favor of the Revenue regarding the assessability of interest income under the head 'Business Income,' concluding that interest income on bank deposits is categorized as income from "other sources" and not "business income." Therefore, the interest income was not eligible for deduction under section 80HHC. However, the court sided with the assessee on the inclusion of agency despatches in total turnover for deduction computation under section 80HHC, holding that only the assessee's own goods should be included in the turnover calculation to align with the legislative intent of providing tax relief to exporters based on their own export turnover. en-us Thu, 27 Mar 2003 00:00:00 +0530 Mon, 08 Feb 2010 11:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=11769 The court ruled in favor of the Revenue regarding the assessability of interest income under the head 'Business Income,' concluding that interest income on bank deposits is categorized as income from "other sources" and not "business income." Therefore, the interest income was not eligible for deduction under section 80HHC. However, the court sided with the assessee on the inclusion of agency despatches in total turnover for deduction computation under section 80HHC, holding that only the assessee's own goods should be included in the turnover calculation to align with the legislative intent of providing tax relief to exporters based on their own export turnover. Case-Laws Income Tax Thu, 27 Mar 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=11769