https://www.taxtmi.com/caselaws?id=340228 The dominant issue was whether interest earned on a security deposit (including deposits with the electricity board for power supply) qualified for deduction under s. 80-IA/80-IAB as profits "derived from" the eligible SEZ development/industrial undertaking. Applying the settled distinction between "derived from" and "attributable to," the HC held that deduction is confined to income having a direct and immediate nexus with the eligible activity; interest from such deposits arises from a secondary source and does not flow directly from the undertaking. The HC declined to follow a contrary view of another HC and found no infirmity in the Tribunal's decision. The claim for deduction on such interest was denied and the matter was decided against the assessee. en-us Mon, 27 Feb 2017 00:00:00 +0530 Sat, 03 Jan 2026 13:01:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=340228 The dominant issue was whether interest earned on a security deposit (including deposits with the electricity board for power supply) qualified for deduction under s. 80-IA/80-IAB as profits "derived from" the eligible SEZ development/industrial undertaking. Applying the settled distinction between "derived from" and "attributable to," the HC held that deduction is confined to income having a direct and immediate nexus with the eligible activity; interest from such deposits arises from a secondary source and does not flow directly from the undertaking. The HC declined to follow a contrary view of another HC and found no infirmity in the Tribunal's decision. The claim for deduction on such interest was denied and the matter was decided against the assessee. Case-Laws Income Tax Mon, 27 Feb 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=340228