https://www.taxtmi.com/caselaws?id=34367 HC held that insurance proceeds for goods destroyed by fire are attributable to and must be included in the profits of the industrial undertaking for purposes of Section 80-IA. The court found an adequate nexus between the insurance receipt and the assessee's manufacturing business, rejected the Revenue's reliance on decisions concerning capital gains and "transfer," and concluded the tribunal and CIT(A) correctly deleted the disallowance. The appeal by Revenue was dismissed. en-us Wed, 19 Aug 2009 00:00:00 +0530 Wed, 12 Nov 2025 16:26:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=34367 HC held that insurance proceeds for goods destroyed by fire are attributable to and must be included in the profits of the industrial undertaking for purposes of Section 80-IA. The court found an adequate nexus between the insurance receipt and the assessee's manufacturing business, rejected the Revenue's reliance on decisions concerning capital gains and "transfer," and concluded the tribunal and CIT(A) correctly deleted the disallowance. The appeal by Revenue was dismissed. Case-Laws Income Tax Wed, 19 Aug 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=34367