https://www.taxtmi.com/caselaws?id=15686 HC held that profits from sale of scrap arising from the manufacturing process of V-belts, oil seals, O-rings and related rubber products qualify as derived from the industrial undertaking and are eligible for a 20% deduction under section 80HH; such gains are includible in the assessee's gross total income for that purpose. Conversely, interest earned by the industrial undertaking cannot be treated as part of the gross total income for claiming the 80HH deduction. The reference tax case is disposed of accordingly. en-us Thu, 16 Apr 1998 00:00:00 +0530 Fri, 10 Oct 2025 15:02:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=15686 HC held that profits from sale of scrap arising from the manufacturing process of V-belts, oil seals, O-rings and related rubber products qualify as derived from the industrial undertaking and are eligible for a 20% deduction under section 80HH; such gains are includible in the assessee's gross total income for that purpose. Conversely, interest earned by the industrial undertaking cannot be treated as part of the gross total income for claiming the 80HH deduction. The reference tax case is disposed of accordingly. Case-Laws Income Tax Thu, 16 Apr 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=15686