https://www.taxtmi.com/caselaws?id=31720 The High Court clarified that interest income on fixed deposits should be classified as "income from other sources" and not as business income for the purpose of Section 80HHC deduction. The Court set aside the Tribunal's decision and directed the Assessing Officer to allow the deduction in accordance with this classification, following legal precedents that specify conditions for treating interest income on fixed deposits. This judgment provides clear guidelines for accurate treatment of such income in tax assessments. en-us Thu, 27 Nov 2008 00:00:00 +0530 Fri, 29 Jan 2010 12:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=31720 The High Court clarified that interest income on fixed deposits should be classified as "income from other sources" and not as business income for the purpose of Section 80HHC deduction. The Court set aside the Tribunal's decision and directed the Assessing Officer to allow the deduction in accordance with this classification, following legal precedents that specify conditions for treating interest income on fixed deposits. This judgment provides clear guidelines for accurate treatment of such income in tax assessments. Case-Laws Income Tax Thu, 27 Nov 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=31720