https://www.taxtmi.com/caselaws?id=21196 HC held that, for deduction under section 80HH, only profits and gains "derived from" the eligible industrial undertaking are relevant, adopting the narrow interpretation of "derived from" as in the earlier Sterling Foods ruling. Income from lorry hire, weighment charges, miscellaneous receipts, fixed deposits and similar ancillary sources, as well as sale of import entitlements, does not qualify as profit derived from the industrial unit. Further, losses from other units cannot be set off against the profits of the eligible undertaking for computing the section 80HH deduction, as such set-off would yield an artificial figure. The reference was answered against the assessee. en-us Wed, 04 Nov 1992 00:00:00 +0530 Thu, 11 Dec 2025 18:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=21196 HC held that, for deduction under section 80HH, only profits and gains "derived from" the eligible industrial undertaking are relevant, adopting the narrow interpretation of "derived from" as in the earlier Sterling Foods ruling. Income from lorry hire, weighment charges, miscellaneous receipts, fixed deposits and similar ancillary sources, as well as sale of import entitlements, does not qualify as profit derived from the industrial unit. Further, losses from other units cannot be set off against the profits of the eligible undertaking for computing the section 80HH deduction, as such set-off would yield an artificial figure. The reference was answered against the assessee. Case-Laws Income Tax Wed, 04 Nov 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=21196