NCLAT: Unenforced Equitable Mortgage is Corporate Debtor’s Asset, Not to Be Treated as Margin Money  ||  NCLT Approves Hindustan Unilever’s Ice Cream Business Demerger into Kwality Wall’s  ||  Supreme Court: Bar Councils Cannot Charge Over Rs 750 for Enrollment or Withhold Applicants’ Docs  ||  SC Cancels POCSO Conviction, Observing Crime Resulted from Love, Not Lust, After Marriage  ||  Supreme Court: Advocates Can be Summoned Only under S.132 BSA Exceptions with Prior Officer Approval  ||  Allahabad HC: Juvenile Conviction Cannot be Treated as Disqualification for Government Jobs  ||  Delhi HC: DV Act Rights of Daughter-in-Law Cannot Deny In-Laws’ Right to Reside in Home  ||  Delhi HC: Waitlist Panel Cannot Be Segregated, Vacancies Must Be Filled From Valid Waitlist  ||  Delhi HC: Matrimonial FIR Cannot Be Quashed If Couple’s Settlement Agreement is Not Executed  ||  Delhi HC Bars All India Carrom Federation from Using “India” or “Indian” in its Name    

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 2025 - All Rights Reserved