High Court held that interest from business debtors was to be included for purpose of calculation of deduction under sections 80HH and 80HHC. Court held that since, tax effect is below threshold limits, Special Leave Petition is dismissed. (AY. 1998-99)
CIT v. Nirma Ltd. (2024) 299 Taxman 180 (SC) Editorial : CIT v. Nirma Ltd (2015) 229 Taxman 535 (Guj)(HC)
S. 80HHC : Export business-Interest from business debtors-Allowable as deduction-Tax effect is below threshold limits-SLP of Revenue is dismissed. [S. 268A, Art. 136]