https://www.taxtmi.com/caselaws?id=235017 Transport, interest, power and insurance subsidies linked directly to the running costs of industrial undertakings were treated as operational receipts with a first-degree nexus to manufacturing activity. The subsidies reduced transportation, electricity, working capital and insurance expenses, so they affected production cost and profits of the undertakings rather than arising as independent incentives like DEPB or duty drawback. On that basis, the assessees were held entitled to deduction under Sections 80IB and 80IC, and the Revenue's challenge failed. en-us Wed, 29 May 2013 00:00:00 +0530 Fri, 25 Oct 2013 11:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=235017 Transport, interest, power and insurance subsidies linked directly to the running costs of industrial undertakings were treated as operational receipts with a first-degree nexus to manufacturing activity. The subsidies reduced transportation, electricity, working capital and insurance expenses, so they affected production cost and profits of the undertakings rather than arising as independent incentives like DEPB or duty drawback. On that basis, the assessees were held entitled to deduction under Sections 80IB and 80IC, and the Revenue's challenge failed. Case-Laws Income Tax Wed, 29 May 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=235017