https://www.taxtmi.com/caselaws?id=15223 The dominant issue was whether interest earned on bank fixed deposits qualified as "profits derived from export" so as to be included for deduction under s. 80HHC. The HC held that s. 80HHC allows deduction only of income derived from export business, and the assessee failed to establish a direct nexus between fixed deposit interest and export activity. Relying on its earlier precedent, the Court affirmed that such interest is not business income but "income from other sources," and therefore cannot form part of eligible export profits for s. 80HHC deduction. Consequently, the appeals were dismissed. en-us Mon, 19 Jul 1999 00:00:00 +0530 Fri, 19 Dec 2025 23:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=15223 The dominant issue was whether interest earned on bank fixed deposits qualified as "profits derived from export" so as to be included for deduction under s. 80HHC. The HC held that s. 80HHC allows deduction only of income derived from export business, and the assessee failed to establish a direct nexus between fixed deposit interest and export activity. Relying on its earlier precedent, the Court affirmed that such interest is not business income but "income from other sources," and therefore cannot form part of eligible export profits for s. 80HHC deduction. Consequently, the appeals were dismissed. Case-Laws Income Tax Mon, 19 Jul 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=15223