https://www.taxtmi.com/caselaws?id=340734 For deduction under section 80IB(11A), receipts having a direct nexus with the industrial undertaking may be included in eligible profits: discount on purchases, which reduced material cost, and Government interest subsidy linked to the unit's term loan were treated as deductible business-linked items. Where interest from PGVCL was relevant to the computation, only the net interest income was to be excluded, not the gross receipt. Notional partner-related interest and remuneration could not be foisted into the accounts and deducted from eligible profits when such payments were discretionary under the partnership deed and had not actually been booked. en-us Thu, 23 Mar 2017 00:00:00 +0530 Mon, 27 Mar 2017 14:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=340734 For deduction under section 80IB(11A), receipts having a direct nexus with the industrial undertaking may be included in eligible profits: discount on purchases, which reduced material cost, and Government interest subsidy linked to the unit's term loan were treated as deductible business-linked items. Where interest from PGVCL was relevant to the computation, only the net interest income was to be excluded, not the gross receipt. Notional partner-related interest and remuneration could not be foisted into the accounts and deducted from eligible profits when such payments were discretionary under the partnership deed and had not actually been booked. Case-Laws Income Tax Thu, 23 Mar 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=340734