https://www.taxtmi.com/highlights?id=92702 The ITAT upheld the CIT(A)'s decision: the State sales-tax subsidy under the backward-area development scheme is a capital receipt not chargeable to tax and must be excluded from book profits for section 115JB (MAT); Revenue's appeal dismissed. Depreciation claimed on intangible assets and goodwill arising on amalgamation is allowed, with the established WDV to be carried forward and not reopened by the AO. Product-registration expenditures are allowable as revenue deductions under section 37(1). Deduction under section 80IA is allowable in principle, but the AO is directed to recompute eligible profits after excluding non-eligible income, setting off brought-forward losses and reasonably apportioning administrative/financial costs. Guarantee-commission addition restricted to 0.50% of guarantee value. en-us Sat, 20 Sep 2025 08:38:47 +0530 Sat, 20 Sep 2025 08:38:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=92702 The ITAT upheld the CIT(A)'s decision: the State sales-tax subsidy under the backward-area development scheme is a capital receipt not chargeable to tax and must be excluded from book profits for section 115JB (MAT); Revenue's appeal dismissed. Depreciation claimed on intangible assets and goodwill arising on amalgamation is allowed, with the established WDV to be carried forward and not reopened by the AO. Product-registration expenditures are allowable as revenue deductions under section 37(1). Deduction under section 80IA is allowable in principle, but the AO is directed to recompute eligible profits after excluding non-eligible income, setting off brought-forward losses and reasonably apportioning administrative/financial costs. Guarantee-commission addition restricted to 0.50% of guarantee value. Highlights Income Tax Sat, 20 Sep 2025 08:38:47 +0530 https://www.taxtmi.com/highlights?id=92702