https://www.taxtmi.com/caselaws?id=30027 The High Court dismissed the appeals concerning the deduction of interest on deposits under Sections 80HH and 80I of the Income Tax Act for the assessment years 1991-92 to 1993-94. The Court upheld the Tribunal's decision, emphasizing that interest income already included in business profits should not be disallowed under Section 154. Citing precedent, the Court found no substantial question of law, affirming that the interest income had been correctly treated. Consequently, the appeals were dismissed, and related miscellaneous petitions were also rejected. en-us Thu, 21 Jun 2007 00:00:00 +0530 Tue, 29 Jul 2008 11:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=30027 The High Court dismissed the appeals concerning the deduction of interest on deposits under Sections 80HH and 80I of the Income Tax Act for the assessment years 1991-92 to 1993-94. The Court upheld the Tribunal's decision, emphasizing that interest income already included in business profits should not be disallowed under Section 154. Citing precedent, the Court found no substantial question of law, affirming that the interest income had been correctly treated. Consequently, the appeals were dismissed, and related miscellaneous petitions were also rejected. Case-Laws Income Tax Thu, 21 Jun 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=30027