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2016 (5) TMI 1465 - AT - Income TaxNature of income - power subsidy received as grant for promotion of industrial unit - revenue receipt OR capital receipt - diversion of views by members judicial and accountant - Held that:- Hon'ble President, ITAT, in his capacity as Third Member, has concurred with the conclusions arrived at by the learned Accountant Member that the power subsidy received by assessee in the above facts and circumstances is capital in nature. In accordance with the majority view, therefore, the appeals filed by the assessee are allowed.
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