https://www.taxtmi.com/caselaws?id=279928 The Tribunal upheld the exclusion of interest income from FDRs as income from other sources, denying the Section 80HHC deduction. However, it reversed the exclusion of DEPB receipts, directing the assessing officer to allow the claim for deduction. The rejection of books of account was upheld, but the Tribunal reversed the trading addition due to flawed GP rate estimation. It also directed the deletion of disallowed interest expenses, finding sufficient interest-free funds. Overall, the Tribunal's decisions varied, allowing some grounds in favor of the assessee while dismissing others. en-us Thu, 31 Jul 2008 00:00:00 +0530 Sun, 10 Dec 2023 15:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=279928 The Tribunal upheld the exclusion of interest income from FDRs as income from other sources, denying the Section 80HHC deduction. However, it reversed the exclusion of DEPB receipts, directing the assessing officer to allow the claim for deduction. The rejection of books of account was upheld, but the Tribunal reversed the trading addition due to flawed GP rate estimation. It also directed the deletion of disallowed interest expenses, finding sufficient interest-free funds. Overall, the Tribunal's decisions varied, allowing some grounds in favor of the assessee while dismissing others. Case-Laws Income Tax Thu, 31 Jul 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=279928