Interest subsidy not being income has to be excluded while computing book profits u/s 115JB

Indogulf Cropsciences Ltd. Vs ACIT (ITAT Delhi) ITAT Delhi held that as receipt of an interest subsidy received under the scheme is not income at all and hence the same has to be excluded while computing book profits under section 115JB of the Income Tax Act. Facts- The assessee company is having a unit in Jammu & Kashmir on which deduction u/s 80IC has been claimed. During the assessment proceedings, AO gathered that the assessee has received an excise refund amounting to Rs. 6,76,32,413/- and an interest subsidy amounting to Rs. 32,77,053/- which have been claimed as capital receipts. AO...