Interest on term deposits & exp. provision written back were eligible for sec. 80-IA deduction; SC dismissed SLP

IT: If rent or interest is a receipt chargeable as profits and gains of business and chargeable to tax under section 28, and if any quantum of rent or interest of assessee is allowable as an expense in accordance with sections 30 to 44D and is not to be included in profit of business of assessee as computed under head 'Profits and gains of business or profession', ninety per cent of such quantum of receipt of rent or interest will not be deducted under clause (a) of Explanation (baa) to section

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