https://www.taxtmi.com/caselaws?id=185051 Under item 6(g) of the Second Schedule to the Payment of Bonus Act, subsidy was construed narrowly as direct cash assistance, so customs drawback and railway freight rebate were not deductible. Amounts paid by the Joint Plant Committee and the Indian Cotton Mills Federation also failed to qualify, because they were not received from a body corporate established by law within the statutory sense. Receipts obtained in 1967, although attributable to earlier years, were treated as income of 1967 on a cash basis and could be included in allocable surplus. On that basis, only the direct Government cash subsidy remained deductible and the bonus computation required recalculation. en-us Wed, 20 Dec 1972 00:00:00 +0530 Fri, 29 Jul 2016 10:04:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=185051 Under item 6(g) of the Second Schedule to the Payment of Bonus Act, subsidy was construed narrowly as direct cash assistance, so customs drawback and railway freight rebate were not deductible. Amounts paid by the Joint Plant Committee and the Indian Cotton Mills Federation also failed to qualify, because they were not received from a body corporate established by law within the statutory sense. Receipts obtained in 1967, although attributable to earlier years, were treated as income of 1967 on a cash basis and could be included in allocable surplus. On that basis, only the direct Government cash subsidy remained deductible and the bonus computation required recalculation. Case-Laws Indian Laws Wed, 20 Dec 1972 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=185051