https://www.taxtmi.com/caselaws?id=277774 The court ruled in favor of the assessee, holding that interest income earned from fixed deposits, derived from export proceeds, is eligible for deduction under Sections 10A and 10B of the Income Tax Act, 1961. The court emphasized that once income forms part of the business of the eligible undertaking, it cannot be excluded from eligible profits for computing deductions under Section 10B. The judgment clarified the interpretation of provisions to ensure that income from eligible business activities is not unfairly excluded from deduction calculations, promoting intended benefits without inconsistencies or denial of legitimate relief. en-us Tue, 20 Feb 2018 00:00:00 +0530 Sat, 22 Dec 2018 06:04:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=277774 The court ruled in favor of the assessee, holding that interest income earned from fixed deposits, derived from export proceeds, is eligible for deduction under Sections 10A and 10B of the Income Tax Act, 1961. The court emphasized that once income forms part of the business of the eligible undertaking, it cannot be excluded from eligible profits for computing deductions under Section 10B. The judgment clarified the interpretation of provisions to ensure that income from eligible business activities is not unfairly excluded from deduction calculations, promoting intended benefits without inconsistencies or denial of legitimate relief. Case-Laws Income Tax Tue, 20 Feb 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=277774