https://www.taxtmi.com/caselaws?id=57206 The Tribunal allowed the appeal of the assessee, directing the Assessing Officer to allow the deduction under Section 80HHC as claimed. The Tribunal held that even though the interest income was taxable under "Income from other sources," the deduction under Section 80HHC should not be affected. This decision overturned the CIT(A)'s ruling and recognized the proportionate expenses necessary for earning interest income, attributing 10% of the interest receipts to business profit, resulting in an increase in export profits eligible for deduction under Section 80HHC. en-us Tue, 31 May 2005 00:00:00 +0530 Wed, 08 Dec 2010 18:52:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=57206 The Tribunal allowed the appeal of the assessee, directing the Assessing Officer to allow the deduction under Section 80HHC as claimed. The Tribunal held that even though the interest income was taxable under "Income from other sources," the deduction under Section 80HHC should not be affected. This decision overturned the CIT(A)'s ruling and recognized the proportionate expenses necessary for earning interest income, attributing 10% of the interest receipts to business profit, resulting in an increase in export profits eligible for deduction under Section 80HHC. Case-Laws Income Tax Tue, 31 May 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=57206