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2006 (7) TMI 151 - HC - Income TaxDeduction under section 80HHC - "Whether Tribunal was correct in law in directing the Assessing Officer to allow netting in interest for computing deduction under section 80HHC of the Income-tax Act?" - held that it is the gross interest received by the assessee, which is to be considered in terms of Explanation (baa) to section 80HHC of the Act and not the net interest for the purpose of arriving at the profits of the business.
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