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2012 (3) TMI 120 - AT - Income TaxAssessee claimed deduction under 80HHC - Interest Income assessable as "Business Income OR Other Source" - CIT revoked 263 - Held That:- Deposit in bank account are as business compulsion and as a requirement of bank in granting credit facilities and not to earn interest Income. In earlier year the above ground were decided in assessee favour. Where two views are possible and AO resorted to one, it cannot be considered an order erroneous to revenue. Revocation not justified. Export Gain on forward contracts as a part of export turnover under 80HHC - Held That:- Exchange gain on forward contract translation does not have any element of export turnover or profit from export. 90% of the said income has to be excluded from the business profits
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