Description:
The source of the subsidy is not the business of the assessee but scheme of the Central Government. Therefore deduction under section 80-IA was not allowable in respect of transport subsidy.
Source:
1. www.tpcc.in
2. The Tax Referencer .Volume121. Issue No.4, 26 Sept. 2011, Page No.49.
Our comment:
Transport subsidy, Central Government assistance, Not Income, U/s. 80-IA
