https://www.taxtmi.com/caselaws?id=268330 Deduction for profits of an export undertaking was affirmed for three contested items. Receipt from a customer for cancellation of an export order was held non severable from the undertaking's business income and therefore attributable to the export undertaking, so deductible. Freight subsidy was held to form part of the undertaking's profits because it related to the business of exporting, so deductible. Interest on fixed deposit receipts pledged to secure bank facilities was treated as income arising from the export business; applying prior ratio, that interest qualified for deduction as part of undertaking profits, so deductible. en-us Thu, 19 Nov 2015 00:00:00 +0530 Mon, 09 Feb 2026 13:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=268330 Deduction for profits of an export undertaking was affirmed for three contested items. Receipt from a customer for cancellation of an export order was held non severable from the undertaking's business income and therefore attributable to the export undertaking, so deductible. Freight subsidy was held to form part of the undertaking's profits because it related to the business of exporting, so deductible. Interest on fixed deposit receipts pledged to secure bank facilities was treated as income arising from the export business; applying prior ratio, that interest qualified for deduction as part of undertaking profits, so deductible. Case-Laws Income Tax Thu, 19 Nov 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=268330