https://www.taxtmi.com/caselaws?id=468958 Interest earned by an eligible SEZ unit on short-term fixed deposits placed from surplus funds is not deductible under section 10AA unless it has a direct nexus with the export undertaking's operations and is derived from the business itself. Applying strict construction of exemption provisions, the interest was treated as incidental investment income rather than export profits, so deduction was denied on that issue. The separate contention that the same interest income had been taxed twice required factual verification; relief was to follow if the claim was substantiated. en-us Mon, 10 Feb 2025 00:00:00 +0530 Mon, 25 May 2026 17:49:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=468958 Interest earned by an eligible SEZ unit on short-term fixed deposits placed from surplus funds is not deductible under section 10AA unless it has a direct nexus with the export undertaking's operations and is derived from the business itself. Applying strict construction of exemption provisions, the interest was treated as incidental investment income rather than export profits, so deduction was denied on that issue. The separate contention that the same interest income had been taxed twice required factual verification; relief was to follow if the claim was substantiated. Case-Laws Income Tax Mon, 10 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=468958