https://www.taxtmi.com/caselaws?id=13569 The Court upheld the Tribunal's decision, dismissing the appellant's claim for deduction under section 80-IA of the Income-tax Act. It concluded that profits from trading activities of goods not manufactured by the assessee do not qualify as profits derived from an industrial undertaking. The Court emphasized the requirement for a direct nexus between profits and the industrial undertaking to be eligible for such deductions. The judgment reinforced the interpretation that only profits directly derived from the industrial activity are eligible for deduction under section 80-IA, aligning with established apex court precedents. en-us Thu, 17 Aug 2006 00:00:00 +0530 Sat, 09 Mar 2024 12:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=13569 The Court upheld the Tribunal's decision, dismissing the appellant's claim for deduction under section 80-IA of the Income-tax Act. It concluded that profits from trading activities of goods not manufactured by the assessee do not qualify as profits derived from an industrial undertaking. The Court emphasized the requirement for a direct nexus between profits and the industrial undertaking to be eligible for such deductions. The judgment reinforced the interpretation that only profits directly derived from the industrial activity are eligible for deduction under section 80-IA, aligning with established apex court precedents. Case-Laws Income Tax Thu, 17 Aug 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=13569