https://www.taxtmi.com/caselaws?id=286120 Explanation (baa) to section 80HHC permits exclusion of ninety percent only of the net amount of rent and interest actually included in business profits after allowing expenses, not of gross receipts; Assessing Officer must verify interest against interest expenditure to determine net. Receipts such as claims, excess provisions written back and miscellaneous income were directed to be treated as business receipts with 90% inclusion for 80HHC computation. Profits on sale of export benefits (DEPB) were allowed as eligible for deduction for the year under consideration. Export turnover of a 100% EOU was excluded from the assessee's export turnover and allocation of direct and indirect costs must be recomputed by AO in line with specified apportionment principles. en-us Fri, 28 Dec 2012 00:00:00 +0530 Sun, 01 Feb 2026 10:31:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=286120 Explanation (baa) to section 80HHC permits exclusion of ninety percent only of the net amount of rent and interest actually included in business profits after allowing expenses, not of gross receipts; Assessing Officer must verify interest against interest expenditure to determine net. Receipts such as claims, excess provisions written back and miscellaneous income were directed to be treated as business receipts with 90% inclusion for 80HHC computation. Profits on sale of export benefits (DEPB) were allowed as eligible for deduction for the year under consideration. Export turnover of a 100% EOU was excluded from the assessee's export turnover and allocation of direct and indirect costs must be recomputed by AO in line with specified apportionment principles. Case-Laws Income Tax Fri, 28 Dec 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=286120