https://www.taxtmi.com/caselaws?id=325497 The Rajasthan HC held that interest income earned by an exporter from surplus funds invested locally is not eligible for deduction under section 80HHC. The court ruled that section 80HHC deduction is available only to exporters engaged in export business, not for interest income from idle funds. Despite the assessee treating interest as business income, the court found that advancing money was not the assessee's business activity nor incidental to export operations. The interest income did not qualify as profits from export business, making it ineligible for the deduction. Decision against the assessee. en-us Fri, 11 Sep 2015 00:00:00 +0530 Thu, 10 Jul 2025 17:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=325497 The Rajasthan HC held that interest income earned by an exporter from surplus funds invested locally is not eligible for deduction under section 80HHC. The court ruled that section 80HHC deduction is available only to exporters engaged in export business, not for interest income from idle funds. Despite the assessee treating interest as business income, the court found that advancing money was not the assessee's business activity nor incidental to export operations. The interest income did not qualify as profits from export business, making it ineligible for the deduction. Decision against the assessee. Case-Laws Income Tax Fri, 11 Sep 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=325497