https://www.taxtmi.com/caselaws?id=12053 For Explanation (baa) to section 80HHC, brokerage, commission, interest, rent and similar receipts are reduced from export profits only when they form part of profits computed under the head "Profits and gains of business or profession". The provision does not permit netting of interest paid against interest received across different heads of income, and interest assessed as "Income from other sources" is outside the reduction formula. The same approach applies to rent and commission. The reduction must therefore be made on receipts included in business profits computation, not on a net basis across heads of income, and the issue was answered in favour of the Revenue. en-us Mon, 09 Sep 2002 00:00:00 +0530 Wed, 24 Dec 2025 21:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=12053 For Explanation (baa) to section 80HHC, brokerage, commission, interest, rent and similar receipts are reduced from export profits only when they form part of profits computed under the head "Profits and gains of business or profession". The provision does not permit netting of interest paid against interest received across different heads of income, and interest assessed as "Income from other sources" is outside the reduction formula. The same approach applies to rent and commission. The reduction must therefore be made on receipts included in business profits computation, not on a net basis across heads of income, and the issue was answered in favour of the Revenue. Case-Laws Income Tax Mon, 09 Sep 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=12053