https://www.taxtmi.com/caselaws?id=3173 The High Court held that interest income, export incentive, octroi refund, and sales in India should not be included in total profits for calculating deduction under Section 80HHC of the Income Tax Act. The court emphasized the need for a direct nexus between the profits and the industrial undertaking to qualify for the deduction. The Revenue's argument that these receipts did not have a direct nexus with the industrial undertaking was accepted, and the assessee's claim for rebate under Section 80HHC was denied. en-us Tue, 12 Sep 2006 00:00:00 +0530 Wed, 30 Jul 2008 09:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=3173 The High Court held that interest income, export incentive, octroi refund, and sales in India should not be included in total profits for calculating deduction under Section 80HHC of the Income Tax Act. The court emphasized the need for a direct nexus between the profits and the industrial undertaking to qualify for the deduction. The Revenue's argument that these receipts did not have a direct nexus with the industrial undertaking was accepted, and the assessee's claim for rebate under Section 80HHC was denied. Case-Laws Income Tax Tue, 12 Sep 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=3173