https://www.taxtmi.com/caselaws?id=15685 Interest receipts from bank fixed deposits were held not to be profits and gains "derived from" an industrial undertaking for deduction under section 80HH. The controlling source of the income was the bank deposit, not the industrial undertaking, and the settled direct-nexus test requires the undertaking to be the immediate source of the income. On that reasoning, the interest income did not satisfy the statutory for deduction, and the claim was rejected in favour of the Revenue. en-us Tue, 03 Mar 1998 00:00:00 +0530 Wed, 26 Aug 2009 18:39:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=15685 Interest receipts from bank fixed deposits were held not to be profits and gains "derived from" an industrial undertaking for deduction under section 80HH. The controlling source of the income was the bank deposit, not the industrial undertaking, and the settled direct-nexus test requires the undertaking to be the immediate source of the income. On that reasoning, the interest income did not satisfy the statutory for deduction, and the claim was rejected in favour of the Revenue. Case-Laws Income Tax Tue, 03 Mar 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=15685