https://www.taxtmi.com/caselaws?id=202147 The court held that the 'Freight Subsidy' received by the assessee was not eligible for deduction under Section 80-1A of the Income Tax Act, 1961. The subsidy, although related to the industrial undertaking, was not considered as profits "derived" from it as it originated from a government scheme, not the business activity itself. Relying on precedents, the court concluded that the subsidy did not have a direct nexus with the industrial undertaking's profits. Consequently, the appeal was allowed in favor of the revenue, and the assessee's claims were denied. en-us Mon, 16 Nov 2009 00:00:00 +0530 Sat, 06 Jul 2013 12:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=202147 The court held that the 'Freight Subsidy' received by the assessee was not eligible for deduction under Section 80-1A of the Income Tax Act, 1961. The subsidy, although related to the industrial undertaking, was not considered as profits "derived" from it as it originated from a government scheme, not the business activity itself. Relying on precedents, the court concluded that the subsidy did not have a direct nexus with the industrial undertaking's profits. Consequently, the appeal was allowed in favor of the revenue, and the assessee's claims were denied. Case-Laws Income Tax Mon, 16 Nov 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=202147