https://www.taxtmi.com/caselaws?id=384172 The High Court ruled in favor of the assessee in a tax case involving the computation of deductions under Section 80HHC of the Income-tax Act, 1961. The Court held that interest income directly related to the export business should be included in the "profits and gains of business" for Section 80HHC purposes. The Tribunal's decision to exclude this income was deemed erroneous, and the appeal was allowed in favor of the assessee, with no costs awarded. en-us Tue, 23 Jul 2019 00:00:00 +0530 Sat, 07 Dec 2019 17:37:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=384172 The High Court ruled in favor of the assessee in a tax case involving the computation of deductions under Section 80HHC of the Income-tax Act, 1961. The Court held that interest income directly related to the export business should be included in the "profits and gains of business" for Section 80HHC purposes. The Tribunal's decision to exclude this income was deemed erroneous, and the appeal was allowed in favor of the assessee, with no costs awarded. Case-Laws Income Tax Tue, 23 Jul 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=384172