https://www.taxtmi.com/caselaws?id=218399 Deduction under section 10B was denied for three receipts because each lacked direct derivation from the industrial undertaking. Interest on fixed deposits kept as security was held to arise from the deposit itself, not from manufacturing or export activity, so it was ineligible. Sundry balances written off related to earlier years and were not attributable to the relevant year or export operations, so they did not qualify. Sale proceeds of unutilised building material were treated as a windfall receipt and income from other sources, not profit derived from the undertaking. The Tribunal therefore upheld disallowance of deduction on all three amounts. en-us Fri, 05 Oct 2012 00:00:00 +0530 Thu, 15 Nov 2012 09:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=218399 Deduction under section 10B was denied for three receipts because each lacked direct derivation from the industrial undertaking. Interest on fixed deposits kept as security was held to arise from the deposit itself, not from manufacturing or export activity, so it was ineligible. Sundry balances written off related to earlier years and were not attributable to the relevant year or export operations, so they did not qualify. Sale proceeds of unutilised building material were treated as a windfall receipt and income from other sources, not profit derived from the undertaking. The Tribunal therefore upheld disallowance of deduction on all three amounts. Case-Laws Income Tax Fri, 05 Oct 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=218399