https://www.taxtmi.com/caselaws?id=206811 The Tribunal dismissed the appeal, affirming the denial of deduction under Section 80-IB of the Income Tax Act for various income components totaling Rs. 21,07,643. It held that the income in question was not directly derived from the industrial undertaking engaged in ginning and pressing of cotton, as required by the statute. The Tribunal emphasized the necessity of establishing a direct nexus between the income and the eligible business for claiming deductions under Section 80-IB, citing precedents to support its decision. en-us Sun, 25 Sep 2011 00:00:00 +0530 Thu, 17 Nov 2011 17:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=206811 The Tribunal dismissed the appeal, affirming the denial of deduction under Section 80-IB of the Income Tax Act for various income components totaling Rs. 21,07,643. It held that the income in question was not directly derived from the industrial undertaking engaged in ginning and pressing of cotton, as required by the statute. The Tribunal emphasized the necessity of establishing a direct nexus between the income and the eligible business for claiming deductions under Section 80-IB, citing precedents to support its decision. Case-Laws Income Tax Sun, 25 Sep 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=206811