Consumers' Subsidy Funds as deduction u/s.37(1) and , subsidies received by textile mills from Consumers' Subsidy Fund would be revenue receipts

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..... ars - Income Tax - INSTRUCTION NO. 522/CBDT Dated : March 12, 1973 Section(s) Referred: 37(1) Statute: Income - Tax Act, 1961 The Board had occasion to deal with a representation .....

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..... x Act, 1961, being expenditure laid out wholly and exclusively for the purposes of business. Similarly, subsidies received by textile mills from Consumers' Subsidy Fund would be revenue receipts in th .....

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