https://www.taxtmi.com/caselaws?id=392907 The court dismissed the appeal, ruling that interest and lease income, categorized as 'income from other sources,' are not eligible for deduction under Section 80HHC. The court emphasized that such income does not fall under 'profits and gains of business or profession' required for the deduction. It clarified that interest paid by the appellant is relevant for calculating business income, but interest and lease income do not qualify as business income and cannot be offset for deduction purposes. en-us Wed, 05 Feb 2020 00:00:00 +0530 Mon, 02 Mar 2020 12:36:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=392907 The court dismissed the appeal, ruling that interest and lease income, categorized as 'income from other sources,' are not eligible for deduction under Section 80HHC. The court emphasized that such income does not fall under 'profits and gains of business or profession' required for the deduction. It clarified that interest paid by the appellant is relevant for calculating business income, but interest and lease income do not qualify as business income and cannot be offset for deduction purposes. Case-Laws Income Tax Wed, 05 Feb 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=392907