https://www.taxtmi.com/caselaws?id=55321 The Tribunal upheld the exclusion of interest on Fixed Deposits (FDs) from deduction u/s 80HH, emphasizing that such interest should be directly derived from the Industrial Undertaking. The Tribunal rejected the netting of interest for exclusion under section 80HH, stating that interest income should not be offset by interest expenditure as it is treated as "income from other sources." The appeal was dismissed, affirming that interest income on FDs does not qualify for deduction u/s 80HH and rejecting the claim for netting of interest. en-us Mon, 11 Mar 2002 00:00:00 +0530 Thu, 25 Nov 2010 14:46:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=55321 The Tribunal upheld the exclusion of interest on Fixed Deposits (FDs) from deduction u/s 80HH, emphasizing that such interest should be directly derived from the Industrial Undertaking. The Tribunal rejected the netting of interest for exclusion under section 80HH, stating that interest income should not be offset by interest expenditure as it is treated as "income from other sources." The appeal was dismissed, affirming that interest income on FDs does not qualify for deduction u/s 80HH and rejecting the claim for netting of interest. Case-Laws Income Tax Mon, 11 Mar 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=55321