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2019 (3) TMI 363 - HC - Income TaxComputation of deduction u/s 80HHC - whether the word 'Profit' occurring in Section 80HHC means the net of the profit from the export of the self-manufactured goods and also the export of the traded goods? - HELD THAT:- As assessee claimed that only net interest income could be included, namely, gross interest minus expenditure incurred on the borrowal of the amount for investment for earning that interest and such net interest alone could be considered for the purpose of Section 80HHC and, if that net figure is so taken, there is no question of disallowance to the extent of 90% of the negative figure of net interest we are of the opinion that this matter deserves to be sent back to the Tribunal for considering the aforesaid ground of the Assessee about the netting of the interest income, as the same apparently does not seem to have been considered by the Tribunal at all.
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