https://www.taxtmi.com/caselaws?id=234217 The High Court, in a case concerning the interpretation of Section 80IA of the Income Tax Act 1961, ruled in favor of the assessee. The court held that the operational subsidy received by the industrial undertaking from the Tamil Nadu Electricity Board was eligible for deduction under Section 80IA as it was directly related to the income-earning activity of the assessee. The court distinguished the subsidy from interest receipts on deposits and allowed the tax case appeal, granting the assessee the entitlement to deduction for the operational subsidy. en-us Mon, 04 Jun 2012 00:00:00 +0530 Mon, 03 Jun 2013 09:04:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=234217 The High Court, in a case concerning the interpretation of Section 80IA of the Income Tax Act 1961, ruled in favor of the assessee. The court held that the operational subsidy received by the industrial undertaking from the Tamil Nadu Electricity Board was eligible for deduction under Section 80IA as it was directly related to the income-earning activity of the assessee. The court distinguished the subsidy from interest receipts on deposits and allowed the tax case appeal, granting the assessee the entitlement to deduction for the operational subsidy. Case-Laws Income Tax Mon, 04 Jun 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=234217