https://www.taxtmi.com/caselaws?id=18496 The High Court of GAUHATI ruled in favor of the Revenue, determining that interest income and profit on the sale of fixed assets cannot be considered as profits and gains derived from an industrial undertaking under section 80HH of the Income-tax Act, 1961. The court dismissed the assessee's claim for relief, emphasizing the necessity of a direct nexus between the activity and earnings to qualify for the deduction. en-us Thu, 23 May 1996 00:00:00 +0530 Thu, 01 Oct 2009 12:59:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=18496 The High Court of GAUHATI ruled in favor of the Revenue, determining that interest income and profit on the sale of fixed assets cannot be considered as profits and gains derived from an industrial undertaking under section 80HH of the Income-tax Act, 1961. The court dismissed the assessee's claim for relief, emphasizing the necessity of a direct nexus between the activity and earnings to qualify for the deduction. Case-Laws Income Tax Thu, 23 May 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=18496