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2005 (3) TMI 85 - KERALA HIGH COURTInterest received by the assessee from fixed deposit, commission received on sale of machinery - Deduction under section 80HHC – computation - Whether, there were materials to hold that interest income and commission received (from sale of machinery) by the appellant cannot be taken into account for section 80HHC deduction? - Whether, Tribunal was correct in its interpretation of section 80HHC for the assessment year in question especially by relying on sub-sections (3)(a) and (b) of the Income-tax Act?" - Held that interest received by the assessee from fixed deposit, commission received on sale of machinery, etc., are not business income and consequently, the assessee is not entitled to computation of eligible deduction under section 80HHC of the Act by including those receipts under business income – questions are answered in favour of the Revenue
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