https://www.taxtmi.com/caselaws?id=18059 The High Court held that for deductions under sections 80HH and 80J, profits must directly stem from industrial activities. The Court rejected the Commissioner's corrective notice due to insufficient evidence. Relying on legal precedents, the Tribunal emphasized the need for a clear link between profits and industrial operations. The judgment favored the Revenue, requiring the case to be reviewed by the Income-tax Appellate Tribunal, Cochin Bench. en-us Wed, 29 May 1996 00:00:00 +0530 Sat, 26 Sep 2009 14:22:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=18059 The High Court held that for deductions under sections 80HH and 80J, profits must directly stem from industrial activities. The Court rejected the Commissioner's corrective notice due to insufficient evidence. Relying on legal precedents, the Tribunal emphasized the need for a clear link between profits and industrial operations. The judgment favored the Revenue, requiring the case to be reviewed by the Income-tax Appellate Tribunal, Cochin Bench. Case-Laws Income Tax Wed, 29 May 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=18059