https://www.taxtmi.com/caselaws?id=456296 Deduction under section 36(1)(viii) applies only to profits "derived from" the business of providing long term finance as determined by a direct, first degree nexus between the income and that business. Interest from housing loans with repayment under five years and income from temporary deployment of surplus funds qualify where they directly emanate from the housing finance business; interest from loans for non residential purposes does not qualify. Common costs (provision for contingencies, foreign currency interest, administrative expenses) must be apportioned after re characterisation and recomputation. No interest adjustment against exempt dividend income; disallowance for tax free bond investments deleted. en-us Fri, 12 Jan 2024 00:00:00 +0530 Mon, 05 Jan 2026 12:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=456296 Deduction under section 36(1)(viii) applies only to profits "derived from" the business of providing long term finance as determined by a direct, first degree nexus between the income and that business. Interest from housing loans with repayment under five years and income from temporary deployment of surplus funds qualify where they directly emanate from the housing finance business; interest from loans for non residential purposes does not qualify. Common costs (provision for contingencies, foreign currency interest, administrative expenses) must be apportioned after re characterisation and recomputation. No interest adjustment against exempt dividend income; disallowance for tax free bond investments deleted. Case-Laws Income Tax Fri, 12 Jan 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=456296