https://www.taxtmi.com/caselaws?id=343812 The Court ruled in favor of the Assessee, a cement manufacturer, allowing deductions under section 80-IB of the Income Tax Act for excise duty refund and transport subsidy. The Court held that excise refund is a capital receipt, entitling the Assessee to the deduction. Additionally, revenue earned in disallowed amounts was considered capital receipts aligned with public interest objectives, making the Assessee eligible for the deduction. The Court's decision supported the Assessee's position based on legal provisions and precedents, emphasizing the capital nature of the receipts and promoting industrial development and employment generation. en-us Wed, 26 Apr 2017 00:00:00 +0530 Fri, 02 Jun 2017 06:16:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=343812 The Court ruled in favor of the Assessee, a cement manufacturer, allowing deductions under section 80-IB of the Income Tax Act for excise duty refund and transport subsidy. The Court held that excise refund is a capital receipt, entitling the Assessee to the deduction. Additionally, revenue earned in disallowed amounts was considered capital receipts aligned with public interest objectives, making the Assessee eligible for the deduction. The Court's decision supported the Assessee's position based on legal provisions and precedents, emphasizing the capital nature of the receipts and promoting industrial development and employment generation. Case-Laws Income Tax Wed, 26 Apr 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=343812