https://www.taxtmi.com/caselaws?id=10347 The court held that interest on deposits with a bank cannot be considered income derived from an industrial undertaking for tax relief under section 80HHC of the Income-tax Act. The court referred to precedent establishing that such interest is linked to the bank deposit, not the industrial activity. As the interest was included in the computation under the business profits, it was deemed derived from the export business, leading to the dismissal of the Revenue's appeal. en-us Mon, 19 Jul 2004 00:00:00 +0530 Tue, 14 Jul 2009 09:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=10347 The court held that interest on deposits with a bank cannot be considered income derived from an industrial undertaking for tax relief under section 80HHC of the Income-tax Act. The court referred to precedent establishing that such interest is linked to the bank deposit, not the industrial activity. As the interest was included in the computation under the business profits, it was deemed derived from the export business, leading to the dismissal of the Revenue's appeal. Case-Laws Income Tax Mon, 19 Jul 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=10347