Interest, Transport and Power Subsidies are eligible Deductions u/s 80IB

Brief of the Case In the case DCIT Vs. Maithan Smelters Ltd. the Hon’ble Kolkata ITAT held that the interest subsidy, transport subsidy and power subsidy received by the assessee are eligible for deduction u/s 80IB of the Act. Facts of the Case The assessee company started its factory unit at Export Promotional Industrial Park, Byrnihat, Meghalaya for manufacture of ferro alloys and in order to avail incentive declared by Government of Meghalaya in its industrial policy formulated in 1997 effective from 15th August, 1997. The assesse had commenced its commercial production on 02.10.2001 rele...