https://www.taxtmi.com/caselaws?id=67425 The Tribunal accepted the Revenue's appeal, reversing the CIT(A)'s decision and restoring the AO's action to disallow the deduction under Section 80-I for the Rs. 4 lakhs disclosed as excess stock. The Tribunal emphasized the requirement for income to be directly connected with the industrial undertaking's business activities, not merely attributable to it. The decision highlighted the narrower scope of "derived from" as compared to "attributable to," as established in legal precedents, ultimately leading to the exclusion of the excess stock amount from the deduction. en-us Wed, 19 Jul 2006 00:00:00 +0530 Mon, 16 Jul 2012 18:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=67425 The Tribunal accepted the Revenue's appeal, reversing the CIT(A)'s decision and restoring the AO's action to disallow the deduction under Section 80-I for the Rs. 4 lakhs disclosed as excess stock. The Tribunal emphasized the requirement for income to be directly connected with the industrial undertaking's business activities, not merely attributable to it. The decision highlighted the narrower scope of "derived from" as compared to "attributable to," as established in legal precedents, ultimately leading to the exclusion of the excess stock amount from the deduction. Case-Laws Income Tax Wed, 19 Jul 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=67425