https://www.taxtmi.com/caselaws?id=36344 The court held that the rent received from leasing machinery and the export incentives qualify for deduction under section 80-I of the Income-tax Act, 1961, as they are deemed profits attributable to a priority industry. However, the interest income from bank deposits was not considered eligible for the deduction as it lacked a direct nexus with the priority industry. The court made its ruling accordingly, with no order as to costs. en-us Tue, 08 Jan 1980 00:00:00 +0530 Sat, 20 Mar 2010 17:40:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=36344 The court held that the rent received from leasing machinery and the export incentives qualify for deduction under section 80-I of the Income-tax Act, 1961, as they are deemed profits attributable to a priority industry. However, the interest income from bank deposits was not considered eligible for the deduction as it lacked a direct nexus with the priority industry. The court made its ruling accordingly, with no order as to costs. Case-Laws Income Tax Tue, 08 Jan 1980 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=36344