https://www.taxtmi.com/caselaws?id=11882 The dominant issue was whether interest earned on short-term bank deposits kept as margin money/committed deposits for opening letters of credit constitutes business profits "derived from" export for deduction under s. 80HHC, or is assessable as "income from other sources." The HC held that "derived from" has a narrow scope, covering only profits directly arising from export and excluding incidental receipts; although the deposits were necessitated by banking requirements to facilitate exports and the interest could be "attributable to" the export business, it was not "derived from" export. Relying on prior HC precedents, the interest was held ineligible for s. 80HHC relief and taxable as income from other sources, and the appeal was dismissed in favour of the Revenue. en-us Fri, 08 Nov 2002 00:00:00 +0530 Thu, 25 Dec 2025 13:37:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=11882 The dominant issue was whether interest earned on short-term bank deposits kept as margin money/committed deposits for opening letters of credit constitutes business profits "derived from" export for deduction under s. 80HHC, or is assessable as "income from other sources." The HC held that "derived from" has a narrow scope, covering only profits directly arising from export and excluding incidental receipts; although the deposits were necessitated by banking requirements to facilitate exports and the interest could be "attributable to" the export business, it was not "derived from" export. Relying on prior HC precedents, the interest was held ineligible for s. 80HHC relief and taxable as income from other sources, and the appeal was dismissed in favour of the Revenue. Case-Laws Income Tax Fri, 08 Nov 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=11882