Bombay High Court Allows Assessee's Reference in Section 80HHC Deduction Case - Interest Income from Sister Concerns Held Includible in Business Profits. The court ruled that interest income derived from the business of export and forming part of business profits must be included in computing the deduction under Section 80HHC of the Income Tax Act, 1961....
The case involves a reference under Section 256(1) of the Income Tax Act, 1961, by the Income Tax Appellate Tribunal (ITAT) to the Bombay High Court. The applicant-assessee, M/s. Tanna Exports Ltd., i...
