https://www.taxtmi.com/caselaws?id=367275 The Tribunal dismissed the Revenue's appeal, upholding the CIT(A)'s order to allow deduction of interest subsidy under section 80IC. Relying on the Supreme Court's decision, the Tribunal determined that the interest subsidy should be treated as reducing operational costs, not as income, thus supporting the allowance of the deduction. The Tribunal emphasized that the subsidy was a reimbursement of costs and not income for the purpose of the deduction. The decision was based on established legal principles and previous rulings, affirming the CIT(A)'s order. en-us Tue, 04 Sep 2018 00:00:00 +0530 Tue, 18 Sep 2018 08:02:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=367275 The Tribunal dismissed the Revenue's appeal, upholding the CIT(A)'s order to allow deduction of interest subsidy under section 80IC. Relying on the Supreme Court's decision, the Tribunal determined that the interest subsidy should be treated as reducing operational costs, not as income, thus supporting the allowance of the deduction. The Tribunal emphasized that the subsidy was a reimbursement of costs and not income for the purpose of the deduction. The decision was based on established legal principles and previous rulings, affirming the CIT(A)'s order. Case-Laws Income Tax Tue, 04 Sep 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=367275