Karnataka HC: A Neighbour Cannot be Charged With Matrimonial Cruelty under Section 498A IPC  ||  Revisional Power U/S 25B(8) of Delhi Rent Control Act is Supervisory; HC Cannot Revisit Facts  ||  Poverty Cannot Bar Parole; Rajasthan HC Waives Surety For Indigent Life Convict, Sets Guidelines  ||  Delhi High Court: Late Payment of TDS Does Not Absolve Criminal Liability under the Income Tax Act  ||  NCLT Kochi: Avoidance Provisions under Insolvency Code Aim to Restore, Not Punish, Parties  ||  Bombay High Court: In IBC Cases, High Courts Lack Parallel Contempt Jurisdiction over the NCLT  ||  Supreme Court: Concluded Auction Cannot Be Cancelled Merely To Invite Higher Bids at a Later Stage  ||  SC: In Customs Classification, Statutory Tariff Headings and HSN Notes Prevail over Common Parlance  ||  SC: Under the Urban Land Ceiling Act, Notice U/S 10(5) Must be Served on the Person in Possession  ||  Supreme Court: Only Courts May Condone Delay; Tribunals Lack Power Unless Statute Allows    

ITAT: Income Received Under FPS Introduced Under Foreign Trade Policy 2004 Are Capital Receipts - (14 Jul 2022)

DIRECT TAXATION

Income Tax Appellate Tribunal (ITAT), Delhi Bench has held that income received under Focus Products Scheme (FPS) introduced under Foreign Trade Policy 2004 is capital receipts and attracts deduction under Section 80IC of Income-Tax Act, 1961.

Tags : ITAT   FOREIGN TRADE POLICY   FOCUS PRODUCTS SCHEME  

Share :        

Disclaimer | Copyright 2026 - All Rights Reserved