https://www.taxtmi.com/caselaws?id=30818 The court upheld the allowance of research and development expenditure for multi-speed freewheels as business-related. The disallowance of interest on advances to the managing director was overturned due to a business nexus. Various expenses were accepted as business expenditures contributing to goodwill. The court ruled in favor of considering losses in deduction calculations under section 80HHC. Certain items were excluded from total turnover for section 80HHC computation. General matters were resolved based on the decisions made on specific issues. en-us Fri, 22 Dec 2006 00:00:00 +0530 Fri, 26 Sep 2008 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=30818 The court upheld the allowance of research and development expenditure for multi-speed freewheels as business-related. The disallowance of interest on advances to the managing director was overturned due to a business nexus. Various expenses were accepted as business expenditures contributing to goodwill. The court ruled in favor of considering losses in deduction calculations under section 80HHC. Certain items were excluded from total turnover for section 80HHC computation. General matters were resolved based on the decisions made on specific issues. Case-Laws Income Tax Fri, 22 Dec 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=30818