https://www.taxtmi.com/caselaws?id=37228 The phrase "derived from" in export-profit relief is limited to the direct and immediate source of profit, so savings earned by importing goods against export-linked import entitlements are not profits derived from export. The rules for computation cannot expand that statutory meaning. The relief is not confined to an overall net profit from the export business: where individual export sales yield profit and the other statutory conditions are met, deduction may be claimed for those profitable sales even if the business as a whole shows a loss. en-us Mon, 22 Jan 1979 00:00:00 +0530 Sat, 27 Mar 2010 15:35:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=37228 The phrase "derived from" in export-profit relief is limited to the direct and immediate source of profit, so savings earned by importing goods against export-linked import entitlements are not profits derived from export. The rules for computation cannot expand that statutory meaning. The relief is not confined to an overall net profit from the export business: where individual export sales yield profit and the other statutory conditions are met, deduction may be claimed for those profitable sales even if the business as a whole shows a loss. Case-Laws Income Tax Mon, 22 Jan 1979 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=37228