Description:
Subsidy or transport subsidy is not the immediate source or have direct nexus with the activity of the industrial undertaking. It is an aid by the government under the scheme. Though it is incidental to the activities of the assessee, the source is the government. Any aid or assistance by the government to a particular type of industry cannot be treated as profit derived from the industrial undertaking.
Source:
1. www.tpcc.in
2. The Tax Referencer .Volume121. Issue No.4, 26 Sept. 2011, Page No.48.
Our comment:
Transport subsidy, not industrial profit, U/s. 80HH
