https://www.taxtmi.com/caselaws?id=340548 The Tribunal upheld that the interest subsidy and excise duty refund received by the Assessee were capital receipts not chargeable to tax. It confirmed the validity of the revised return filed by the Assessee and directed the exclusion of the subsidies from the computation of book profits under section 115JB. The Tribunal also instructed a reconsideration of the addition of Lab Subsidy for deduction under section 80IB and restricted the disallowance under section 14A to the extent of dividend income earned, partly allowing the Assessee's appeal. en-us Wed, 08 Mar 2017 00:00:00 +0530 Thu, 23 Mar 2017 09:09:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=340548 The Tribunal upheld that the interest subsidy and excise duty refund received by the Assessee were capital receipts not chargeable to tax. It confirmed the validity of the revised return filed by the Assessee and directed the exclusion of the subsidies from the computation of book profits under section 115JB. The Tribunal also instructed a reconsideration of the addition of Lab Subsidy for deduction under section 80IB and restricted the disallowance under section 14A to the extent of dividend income earned, partly allowing the Assessee's appeal. Case-Laws Income Tax Wed, 08 Mar 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=340548