Transport, Power and Interest subsidies received by an Industrial Undertaking - Eligibility for deduction under sections 80-IB, 80-IC etc., of the Income-tax Act, 1961- Reg.
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Subsidies as business receipts eligible for Chapter VI-A deductions, including transport power and interest; department instructed not to appeal. Transport, power and interest subsidies reimbursing production or sale costs have a direct nexus with the profits and gains of business of an industrial undertaking and are to be treated as business receipts eligible for deduction under Chapter VI-A where the business qualifies; the Department is directed not to file or to withdraw appeals on this settled issue.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Subsidies as business receipts eligible for Chapter VI-A deductions, including transport power and interest; department instructed not to appeal.
Transport, power and interest subsidies reimbursing production or sale costs have a direct nexus with the profits and gains of business of an industrial undertaking and are to be treated as business receipts eligible for deduction under Chapter VI-A where the business qualifies; the Department is directed not to file or to withdraw appeals on this settled issue.
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