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2015 (1) TMI 1236 - AT - Income TaxGrant from the Government - whether receipts of the assessee cannot be treated as income u/s 2 (24) - Held that:- We are of the considered view that since the above Grants or receipts are received by the assessee either from the government or any other agency for a particular purpose and assessee has no independent right over it, it would not partake the character of income u/s 2 (24) of the Act. Though, this argument was not raised by the assessee before the lower authorities and the assessee had been claiming deduction u/s 80P (2) of the Act or exemption u/s 11 of the Act, but the ground or argument raised before us is plausible and legal. In the instant case as the assessee has no independent right to use the grant in a manner in which it likes. It has to be utilized for a particular purpose in terms of grants. Since these arguments are raised first time before the Tribunal, we are of the view that this aspect should be examined by the Assessing Officer while Assessing the income of the assessee. Accordingly, we set aside the order of the CIT(A) & restore the matter to the file of the Assessing Officer with the direction to the reexamine the claim of the assessee in the light of the new argument. - Decided in favour of assessee for statistical purpose.
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