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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  

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