https://www.taxtmi.com/caselaws?id=779843 Interest earned on fixed deposits created from surplus export proceeds was treated as income from other sources and not as profit derived from export activity, so it was not eligible for deduction under section 10AA absent a direct and inextricable nexus with business exigency. The computation of book profit under section 115JB was sent back for verification and recomputation because the accounts and MAT adjustments had not been meaningfully examined. The claim for leave encashment under section 43B was also remanded for factual verification of payment and any prior disallowance. A possible double addition of the same interest income was required to be checked before final computation of taxable income. en-us Thu, 23 Jan 2025 00:00:00 +0530 Tue, 14 Oct 2025 09:39:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=779843 Interest earned on fixed deposits created from surplus export proceeds was treated as income from other sources and not as profit derived from export activity, so it was not eligible for deduction under section 10AA absent a direct and inextricable nexus with business exigency. The computation of book profit under section 115JB was sent back for verification and recomputation because the accounts and MAT adjustments had not been meaningfully examined. The claim for leave encashment under section 43B was also remanded for factual verification of payment and any prior disallowance. A possible double addition of the same interest income was required to be checked before final computation of taxable income. Case-Laws Income Tax Thu, 23 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=779843