https://www.taxtmi.com/caselaws?id=64077 The Tribunal held that receipts from cash compensatory support and income from the sale of import licenses do not qualify as income derived from an industrial undertaking for relief under sections 80HHA and 80-I. Duty drawback receipts were included in profits for deductions. The treatment of unabsorbed deductions under section 80VVA was rejected due to lack of evidence. Expenditure on boiler testing was deemed revenue in nature. Personal use disallowance of rent and taxes was deleted. Deductibility of damages for breach of contract was partially allowed. Foreign travel expenses disallowance was deleted. The computation methodology for relief under sections 80HHA and 80-I was adjusted. Simultaneous deductions under sections 80J and 80-I were disallowed. Total deductions under section 80VVA could be restricted. Interest under sections 217 and 139(8) was canceled. en-us Thu, 05 Nov 1992 00:00:00 +0530 Thu, 03 Feb 2011 16:20:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=64077 The Tribunal held that receipts from cash compensatory support and income from the sale of import licenses do not qualify as income derived from an industrial undertaking for relief under sections 80HHA and 80-I. Duty drawback receipts were included in profits for deductions. The treatment of unabsorbed deductions under section 80VVA was rejected due to lack of evidence. Expenditure on boiler testing was deemed revenue in nature. Personal use disallowance of rent and taxes was deleted. Deductibility of damages for breach of contract was partially allowed. Foreign travel expenses disallowance was deleted. The computation methodology for relief under sections 80HHA and 80-I was adjusted. Simultaneous deductions under sections 80J and 80-I were disallowed. Total deductions under section 80VVA could be restricted. Interest under sections 217 and 139(8) was canceled. Case-Laws Income Tax Thu, 05 Nov 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=64077