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2019 (4) TMI 1490 - BOMBAY HIGH COURTDeduction u/s 80IB(4) in relation to subsidies - to compensate high transport costs and to offset other disadvantages under VKGUY Scheme - HELD THAT:- Government of India realized that the products such as agricultural produce, minor forest produce and Gram Udyog products as also forest based products would have high transport cost and would be accompanied by various other disadvantages. In order to make the export of such products viable, the Government of India decided to grant certain incentives under the said scheme. The clear objective behind the scheme was, thus, to reduce the cost of its procurements and to neutralize certain inherent disadvantages attached to such products. Clearly, thus, the case was covered by the decision of the Supreme Court in the case of Meghalaya Steels Ltd [2016 (3) TMI 375 - SUPREME COURT] extensive reference to which has been made earlier. This is not a case akin to export incentives such as DEPB which the Supreme Court in case of Liberty India [2009 (8) TMI 63 - SUPREME COURT] held was a benefit far removed from the assessee’s business of export. Question is answered in favour of the appellant - assessee
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