https://www.taxtmi.com/caselaws?id=463682 ITAT MUMBAI upheld CIT(A)'s treatment of interest subsidies under the Rajasthan scheme and TUFS as capital receipts not taxable. Additional grounds on education cess were admitted; AO directed to allow deduction of education cess on income tax and DDT following the HC ruling. AO also directed to verify and allow exclusion of export-incentive under FMS and adjustment of TUFS/RIPS receipts for computation under Sec.115JB. AO to consider depreciation adjusted against general reserve for book profits (per authority) and to delete Sec.14A disallowance if no exempt income was earned. en-us Mon, 26 Jul 2021 00:00:00 +0530 Thu, 11 Sep 2025 18:57:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=463682 ITAT MUMBAI upheld CIT(A)'s treatment of interest subsidies under the Rajasthan scheme and TUFS as capital receipts not taxable. Additional grounds on education cess were admitted; AO directed to allow deduction of education cess on income tax and DDT following the HC ruling. AO also directed to verify and allow exclusion of export-incentive under FMS and adjustment of TUFS/RIPS receipts for computation under Sec.115JB. AO to consider depreciation adjusted against general reserve for book profits (per authority) and to delete Sec.14A disallowance if no exempt income was earned. Case-Laws Income Tax Mon, 26 Jul 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=463682