https://www.taxtmi.com/caselaws?id=34746 Freight subsidy received under a Government incentive scheme was held not to be profits derived from the industrial undertaking for Section 80-IA deduction, because the phrase "derived from" requires a direct and immediate nexus with the undertaking's business operations. The subsidy originated in the Government scheme, not in the industrial undertaking itself, and therefore lacked the necessary source connection to qualify as operational profit. Deduction under Section 80-IA was accordingly unavailable to the assessee, and the issue was answered in favour of the Revenue. en-us Tue, 06 Oct 2009 00:00:00 +0530 Fri, 23 Oct 2009 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=34746 Freight subsidy received under a Government incentive scheme was held not to be profits derived from the industrial undertaking for Section 80-IA deduction, because the phrase "derived from" requires a direct and immediate nexus with the undertaking's business operations. The subsidy originated in the Government scheme, not in the industrial undertaking itself, and therefore lacked the necessary source connection to qualify as operational profit. Deduction under Section 80-IA was accordingly unavailable to the assessee, and the issue was answered in favour of the Revenue. Case-Laws Income Tax Tue, 06 Oct 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=34746