https://www.taxtmi.com/caselaws?id=260178 The court ruled in favor of the revenue, holding that the replantation subsidy received should not be considered for deduction under Section 32AB of the Income Tax Act, 1961. The court emphasized that the subsidy was not income chargeable to tax and rejected the argument for double deductions, citing a Supreme Court decision. The court found the previous judgment cited by the assessee irrelevant and dismissed the argument based on tax effect under Section 268A. Ultimately, the appeal was allowed in favor of the revenue, highlighting the lack of merit in the assessee's arguments. en-us Thu, 14 May 2015 00:00:00 +0530 Wed, 03 Jun 2015 19:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=260178 The court ruled in favor of the revenue, holding that the replantation subsidy received should not be considered for deduction under Section 32AB of the Income Tax Act, 1961. The court emphasized that the subsidy was not income chargeable to tax and rejected the argument for double deductions, citing a Supreme Court decision. The court found the previous judgment cited by the assessee irrelevant and dismissed the argument based on tax effect under Section 268A. Ultimately, the appeal was allowed in favor of the revenue, highlighting the lack of merit in the assessee's arguments. Case-Laws Income Tax Thu, 14 May 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=260178