https://www.taxtmi.com/caselaws?id=774743 ITAT Hyderabad ruled that lease rental income and various other income streams disclosed under "Other income" were not eligible for deduction under Section 80IC. The tribunal held that lease rental income lacked direct nexus with the manufacturing activity at the eligible unit, distinguishing between income "derived from" versus "attributable to" business operations. Interest income, capital subsidy amortization, and miscellaneous income were denied deduction. However, matters regarding project development income and liabilities written back were remanded to AO for fresh adjudication with proper verification of their nexus to eligible business operations. en-us Mon, 26 May 2025 00:00:00 +0530 Sat, 12 Jul 2025 13:23:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=774743 ITAT Hyderabad ruled that lease rental income and various other income streams disclosed under "Other income" were not eligible for deduction under Section 80IC. The tribunal held that lease rental income lacked direct nexus with the manufacturing activity at the eligible unit, distinguishing between income "derived from" versus "attributable to" business operations. Interest income, capital subsidy amortization, and miscellaneous income were denied deduction. However, matters regarding project development income and liabilities written back were remanded to AO for fresh adjudication with proper verification of their nexus to eligible business operations. Case-Laws Income Tax Mon, 26 May 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=774743