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Tata Chemicals allowed income tax deduction for fertiliser subsidy

Th company had claimed a deduction of sales tax remission of ₹3.31 crore and price concession of ₹105.40 crore on the subsidy it received for its Haldia plant for AY 2003-04. The claim was rejected by the assessment officer. Tata Chemicals approached the ITAT after the commissioner of income tax upheld the assessment officer's decision.

from Industry-Economic Times
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