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2010 (6) TMI 588 - CHHATTISGARH HIGH COURTDeduction u/s 80HH & 80-I - interest earned from the fixed deposits. - Held that:- the words "derived from an industrial undertaking" would mean that the income has been derived from industrial activity which the industry is undertaking and it does not mean any industrial activity undertaken by the assessee, it has been held that loans are advanced by an undertaking to a third party and earning interest therefrom cannot be said to be an industrial activity of the assessee so as to entitle it for benefit u/s 80HH and 80-I. - Decided against Assessee.
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