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2014 (2) TMI 45 - HC - Income TaxDeduction u/s 80HHC - Held that:- Relying upon the decision in ACG Associated Capsules Pvt. Ltd vs. Commissioner of Income Tax [2012 (2) TMI 101 - SUPREME COURT OF INDIA] - 90% of not the gross interest but only the net interest, which has been included in the profits of the business of the assessee as computed under the heads "Profits and gains of business or profession" is to be deducted under clause (1) of Explanation (baa) to Section 80HHC for determining the profits of business - Decided against Revenue.
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