https://www.taxtmi.com/caselaws?id=14966 The High Court of BOMBAY upheld the exclusion of interest on refunds and loans from the total turnover for the purpose of computing deductions under section 80HHC. The Court found that these items should not be considered as part of the total turnover for the calculation of export profits under section 80HHC(3)(b). The Department's appeal was dismissed as they failed to challenge the factual findings of the lower authorities and the Court agreed with the assessee's position that interest on refunds and loans should not be included in the total turnover. en-us Tue, 08 Aug 2000 00:00:00 +0530 Thu, 12 May 2016 14:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=14966 The High Court of BOMBAY upheld the exclusion of interest on refunds and loans from the total turnover for the purpose of computing deductions under section 80HHC. The Court found that these items should not be considered as part of the total turnover for the calculation of export profits under section 80HHC(3)(b). The Department's appeal was dismissed as they failed to challenge the factual findings of the lower authorities and the Court agreed with the assessee's position that interest on refunds and loans should not be included in the total turnover. Case-Laws Income Tax Tue, 08 Aug 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=14966