https://www.taxtmi.com/caselaws?id=27810 HC held that receipts from sale of import entitlements constituted business income under s.5 and must be included in total income. The court ruled such receipts are not capital proceeds and do not qualify for deduction under s.80HH because the profits were not derived directly from the industrial undertaking; a mere commercial connection is insufficient. Consequently, the taxpayer's claim for relief under s.80HH was disallowed and the question was decided against the assessee. en-us Fri, 01 Jun 1984 00:00:00 +0530 Thu, 30 Oct 2025 20:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=27810 HC held that receipts from sale of import entitlements constituted business income under s.5 and must be included in total income. The court ruled such receipts are not capital proceeds and do not qualify for deduction under s.80HH because the profits were not derived directly from the industrial undertaking; a mere commercial connection is insufficient. Consequently, the taxpayer's claim for relief under s.80HH was disallowed and the question was decided against the assessee. Case-Laws Income Tax Fri, 01 Jun 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=27810