https://www.taxtmi.com/caselaws?id=16735 The High Court held that deductions under sections 80HH and 80-I should be computed after other deductions, including those under section 32AB, are made. The court determined that the power subsidy received was a capital receipt and not taxable under section 28(iv), as it was intended to promote industrial development and incentivize capital investment. The court referenced relevant Supreme Court decisions to support its conclusions, ruling in favor of the Revenue on the first two issues and in favor of the assessee on the taxability of the power subsidy. en-us Wed, 01 Oct 1997 00:00:00 +0530 Wed, 09 Sep 2009 17:08:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=16735 The High Court held that deductions under sections 80HH and 80-I should be computed after other deductions, including those under section 32AB, are made. The court determined that the power subsidy received was a capital receipt and not taxable under section 28(iv), as it was intended to promote industrial development and incentivize capital investment. The court referenced relevant Supreme Court decisions to support its conclusions, ruling in favor of the Revenue on the first two issues and in favor of the assessee on the taxability of the power subsidy. Case-Laws Income Tax Wed, 01 Oct 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=16735