https://www.taxtmi.com/caselaws?id=12406 Interest on bank deposits kept for opening letters of credit and furnishing guarantee fund was held not to be income derived from the industrial undertaking for sections 80HH and 80-I, because it arose from the deposits themselves and lacked the direct and proximate nexus required by the narrower expression "derived from". The claim therefore failed under those provisions. For section 80HHC, however, export profits were computed by reference to business profits, and the interest already included in business income was treated as part of export profits. Deduction was thus unavailable under sections 80HH and 80-I, but available under section 80HHC. en-us Mon, 07 Oct 2002 00:00:00 +0530 Thu, 08 Jan 2026 15:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=12406 Interest on bank deposits kept for opening letters of credit and furnishing guarantee fund was held not to be income derived from the industrial undertaking for sections 80HH and 80-I, because it arose from the deposits themselves and lacked the direct and proximate nexus required by the narrower expression "derived from". The claim therefore failed under those provisions. For section 80HHC, however, export profits were computed by reference to business profits, and the interest already included in business income was treated as part of export profits. Deduction was thus unavailable under sections 80HH and 80-I, but available under section 80HHC. Case-Laws Income Tax Mon, 07 Oct 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=12406