2000 (8) TMI 70

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....t which arises for consideration in this appeal is : Whether the Department was right in recomputing the deductions under section 80HHC by including interest on refunds and interest on loans in the total turnover ? By the impugned judgment, the Tribunal has excluded the above two items from the total turnover. Hence, this appeal by the Department. Mr. Deodhar, learned counsel for the Department,....

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....8 ; AIR 1962 SC 1352. Ms. Patel, learned counsel for the assessee, contended that in this case, on the facts, the Commissioner of Income-tax (Appeals) as well as the Tribunal have found that interest on income-tax refund as well as on loans were assessable under the head "Income from other sources". She contended that the above two items were not assessable as business income. In the circumstance....