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2010 (8) TMI 97 - PUNJAB AND HARYANA HIGH COURTDeduction u/s 80HHC- While computing exports profits for the purpose of deduction u/s 80HHC, the assessee had not deducted 90% of interest receipt from business profits, pleading that there was no debit balance in the interest account after netting of the interest. The AO did not allow the netting of the interest. The court decided in favour of the department, against the assessee.
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