https://www.taxtmi.com/caselaws?id=30028 The Court held that interest income received from customers, even if considered as business income, must be reduced from the profits of the business for calculating the relief under Section 80HHC of the Income Tax Act, 1961. The judgment favored the revenue, emphasizing that interest income, including that from delayed payments, should be excluded from the calculation of profits for claiming deductions under Section 80HHC. The decision clarified the treatment of interest income for deduction purposes, stressing the accurate computation of business profits for determining relief under the Act. en-us Fri, 22 Dec 2006 00:00:00 +0530 Tue, 29 Jul 2008 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=30028 The Court held that interest income received from customers, even if considered as business income, must be reduced from the profits of the business for calculating the relief under Section 80HHC of the Income Tax Act, 1961. The judgment favored the revenue, emphasizing that interest income, including that from delayed payments, should be excluded from the calculation of profits for claiming deductions under Section 80HHC. The decision clarified the treatment of interest income for deduction purposes, stressing the accurate computation of business profits for determining relief under the Act. Case-Laws Income Tax Fri, 22 Dec 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=30028