https://www.taxtmi.com/caselaws?id=351860 Uttarakhand HC held that interest income earned by the taxpayer is not "derived" from the specified business for purposes of Section 80-IC, so the taxpayer cannot claim the deduction. The court contrasted the narrower statutory language in Sections 80HH/80-IC ("derived") with Section 28(i) and concluded that only profits and gains actually derived from the eligible business activities qualify. Benefit under Section 80-IC was denied; decision against the assessee. en-us Wed, 15 Nov 2017 00:00:00 +0530 Fri, 10 Oct 2025 17:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=351860 Uttarakhand HC held that interest income earned by the taxpayer is not "derived" from the specified business for purposes of Section 80-IC, so the taxpayer cannot claim the deduction. The court contrasted the narrower statutory language in Sections 80HH/80-IC ("derived") with Section 28(i) and concluded that only profits and gains actually derived from the eligible business activities qualify. Benefit under Section 80-IC was denied; decision against the assessee. Case-Laws Income Tax Wed, 15 Nov 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=351860