https://www.taxtmi.com/caselaws?id=330728 The High Court upheld the Tribunal's decision, ruling in favor of the Trust and against the revenue. It concluded that the subsidy received from the Government was directly linked to the industrial activities, forming part of the sale proceeds from fertilizers. Emphasizing the necessity of a direct nexus between profits and the industrial business, the Court held that the Trust was entitled to the deduction under Section 801A without deducting the subsidy amount. The appeal was dismissed, affirming the Trust's eligibility for the deduction based on the subsidy received. en-us Fri, 15 Jul 2016 00:00:00 +0530 Thu, 04 Aug 2016 11:32:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=330728 The High Court upheld the Tribunal's decision, ruling in favor of the Trust and against the revenue. It concluded that the subsidy received from the Government was directly linked to the industrial activities, forming part of the sale proceeds from fertilizers. Emphasizing the necessity of a direct nexus between profits and the industrial business, the Court held that the Trust was entitled to the deduction under Section 801A without deducting the subsidy amount. The appeal was dismissed, affirming the Trust's eligibility for the deduction based on the subsidy received. Case-Laws Income Tax Fri, 15 Jul 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=330728