https://www.taxtmi.com/caselaws?id=419973 The ITAT allowed the appellant's appeal, directing the AO to allow the deduction u/s. 80IC for subsidies related to manufacturing activities. The subsidies were deemed reimbursements for costs incurred in establishing industries in backward areas, in line with government policy. The decision was based on legal precedents and the direct nexus between the subsidies and manufacturing costs, overturning the CIT(A)'s decision. en-us Wed, 16 Feb 2022 00:00:00 +0530 Wed, 23 Mar 2022 10:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=419973 The ITAT allowed the appellant's appeal, directing the AO to allow the deduction u/s. 80IC for subsidies related to manufacturing activities. The subsidies were deemed reimbursements for costs incurred in establishing industries in backward areas, in line with government policy. The decision was based on legal precedents and the direct nexus between the subsidies and manufacturing costs, overturning the CIT(A)'s decision. Case-Laws Income Tax Wed, 16 Feb 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=419973