https://www.taxtmi.com/caselaws?id=25558 The High Court of Madras ruled that profit on sale of assets and interest received by a public limited company, excluding interest from bank deposits, should be included in computing the deduction under section 80-1 of the Income-tax Act, 1961 for the assessment year 1970-71. The court directed an inquiry to determine the amount of interest from banks to be excluded from the total interest for deduction calculation. The revenue was ordered to pay the costs of the assessee. en-us Tue, 04 Feb 1986 00:00:00 +0530 Fri, 29 Jan 2010 13:54:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=25558 The High Court of Madras ruled that profit on sale of assets and interest received by a public limited company, excluding interest from bank deposits, should be included in computing the deduction under section 80-1 of the Income-tax Act, 1961 for the assessment year 1970-71. The court directed an inquiry to determine the amount of interest from banks to be excluded from the total interest for deduction calculation. The revenue was ordered to pay the costs of the assessee. Case-Laws Income Tax Tue, 04 Feb 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=25558