https://www.taxtmi.com/caselaws?id=273592 The Court dismissed the appeal, upholding the Tribunal's decision to deny deduction under s. 80-IA for DEPB license and interest on margin money deposit. The Court emphasized the requirement for a direct nexus between income and the industrial undertaking for claiming deductions under s. 80HH and ruled that interest earned on amounts retained by the bank does not qualify for deduction under s. 80-I due to its link to better business prospects rather than export earnings. Previous judgments supported this stance, leading to the dismissal of the appeal. en-us Tue, 19 Aug 2008 00:00:00 +0530 Wed, 04 Jul 2018 10:16:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=273592 The Court dismissed the appeal, upholding the Tribunal's decision to deny deduction under s. 80-IA for DEPB license and interest on margin money deposit. The Court emphasized the requirement for a direct nexus between income and the industrial undertaking for claiming deductions under s. 80HH and ruled that interest earned on amounts retained by the bank does not qualify for deduction under s. 80-I due to its link to better business prospects rather than export earnings. Previous judgments supported this stance, leading to the dismissal of the appeal. Case-Laws Income Tax Tue, 19 Aug 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=273592