https://www.taxtmi.com/caselaws?id=775684 The ITAT Visakhapatnam held that the assessee's inclusion of revenue from sale of licenses as "other income" under section 80IB(11A) was incorrect. The licenses, being tradable products, were not used to offset customs duty and thus did not reduce the cost of production. The tribunal distinguished the Supreme Court ruling in Meghalaya Steel Ltd, noting that export incentives differ from direct subsidies. Consequently, the deduction claimed by the assessee was disallowed, and the appeal was decided against the assessee. en-us Fri, 25 Jul 2025 00:00:00 +0530 Tue, 29 Jul 2025 08:30:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=775684 The ITAT Visakhapatnam held that the assessee's inclusion of revenue from sale of licenses as "other income" under section 80IB(11A) was incorrect. The licenses, being tradable products, were not used to offset customs duty and thus did not reduce the cost of production. The tribunal distinguished the Supreme Court ruling in Meghalaya Steel Ltd, noting that export incentives differ from direct subsidies. Consequently, the deduction claimed by the assessee was disallowed, and the appeal was decided against the assessee. Case-Laws Income Tax Fri, 25 Jul 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=775684