Consumers' Subsidy Funds as deduction u/s.37(1) and , subsidies received by textile mills from Consumers' Subsidy Fund would be revenue receipts

Consumers' Subsidy Funds as deduction u/s.37(1) and , subsidies received by textile mills from Consumers' Subsidy Fund would be revenue receipts https://www.taxtmi.com/circulars?id=10001 Contributions by textile mills to Consumers' Subsidy Funds are deductible as business expenditure being laid out wholly and exclusively for business purposes, and subsidies received by the mills from those funds are revenue receipts treated as taxable business income. en-us Mon, 12 Mar 1973 00:00:00 +0530 Mon, 13 Jun 2011 12:31:00 +0530 TaxTMI RSS Generator Consumers' Subsidy Funds as deduction u/s.37(1) and , subsidies received by textile mills from Consumers' Subsidy Fund would be revenue receipts https://www.taxtmi.com/circulars?id=10001 Contributions by textile mills to Consumers' Subsidy Funds are deductible as business expenditure being laid out wholly and exclusively for business purposes, and subsidies received by the mills from those funds are revenue receipts treated as taxable business income. Circulars Income Tax Mon, 12 Mar 1973 00:00:00 +0530 https://www.taxtmi.com/circulars?id=10001