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2018 (8) TMI 1752 - ITAT PUNENature of receipt - addition in respect of subsidy received - revenue or capital receipt - Held that:- As decided in COMMISSIONER OF INCOME-TAX VERSUS RELIANCE INDUSTRIES LTD.[2009 (4) TMI 516 - BOMBAY HIGH COURT] subsidy sanctioned to the assessee under similar Package Scheme of Incentives, 1993 was held to be capital in nature. DR has failed to controvert the findings of Commissioner of Income Tax (Appeals). In the absence of any contrary material on record, we uphold the findings of First Appellate Authority in deleting the addition in respect of subsidy received by the assessee holding it to be capital in nature. Accordingly, the appeal of the Revenue is dismissed being devoid of any merit. - Decided against revenue.
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