https://www.taxtmi.com/caselaws?id=177073 Deduction under section 80IB is limited to profits derived from the eligible industrial undertaking, so receipts lacking a direct first-degree nexus, including modvat/cenvat-linked incentive receipts, are excluded from the computation. By contrast, freight-related receipts are to be considered on a net basis rather than being excluded on a gross basis where the computation requires such treatment. The note applies the narrower meaning of "derived from" and distinguishes incentive receipts from transport-related receipts for section 80IB purposes. en-us Fri, 16 Jul 2010 00:00:00 +0530 Sat, 02 Jan 2016 11:42:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=177073 Deduction under section 80IB is limited to profits derived from the eligible industrial undertaking, so receipts lacking a direct first-degree nexus, including modvat/cenvat-linked incentive receipts, are excluded from the computation. By contrast, freight-related receipts are to be considered on a net basis rather than being excluded on a gross basis where the computation requires such treatment. The note applies the narrower meaning of "derived from" and distinguishes incentive receipts from transport-related receipts for section 80IB purposes. Case-Laws Income Tax Fri, 16 Jul 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=177073