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2008 (11) TMI 50 - HC - Income TaxTribunal held that interest income on fixed deposits earned by the assessee be treated as “business income”, as against, “income from other sources”. Consequently assessee would be required to deduct 90% of such interest from the “profits of the business” under Section 80HHC – held that interest earned for the purpose of availing of credit facilities from the bank, does not have an immediate nexus with export business – hence impugned judgment of the Tribunal is held erroneous
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