https://www.taxtmi.com/caselaws?id=268821 The Tribunal upheld the CIT(A)'s decision to allow deduction under section 80IC of the Income-tax Act for insurance claim and sale of salvages, citing a direct link to the industrial unit's activities. Additionally, the Tribunal allowed the deduction for transport subsidy and interest subsidy, emphasizing the established nexus between subsidies and profits from industrial undertakings. The Tribunal dismissed the revenue's appeal and partly allowed the assessee's cross-objection, emphasizing the importance of direct links between subsidies and industrial activities for eligibility for deductions under section 80IC. en-us Thu, 17 Sep 2015 00:00:00 +0530 Tue, 10 Nov 2015 11:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=268821 The Tribunal upheld the CIT(A)'s decision to allow deduction under section 80IC of the Income-tax Act for insurance claim and sale of salvages, citing a direct link to the industrial unit's activities. Additionally, the Tribunal allowed the deduction for transport subsidy and interest subsidy, emphasizing the established nexus between subsidies and profits from industrial undertakings. The Tribunal dismissed the revenue's appeal and partly allowed the assessee's cross-objection, emphasizing the importance of direct links between subsidies and industrial activities for eligibility for deductions under section 80IC. Case-Laws Income Tax Thu, 17 Sep 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=268821