Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2017 (11) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2017 (11) TMI 2052 - PUNJAB AND HARYANA HIGH COURTRelease of sanctioned capital subsidy/Investment Incentive - Petitioner(s) has submitted that the petitioner(s) in all writ petitions are closed units but they are eligible for grant of subsidy - HELD THAT:- The capital subsidy/Investment Incentive of Rs.50 lacs was sanctioned to the petitioner as far as back on 31.3.1997 on 18.3.1999. Since then the petitioner is waiting for the release of the capital subsidy/Investment Incentive. During this interregnum due to financial sickness, the petitioner Company was closed in the year 2006 but the subsidy is still not released and the only reason assigned is that since there are so many similar closed units, which are claiming subsidy, therefore the Guidelines are in pipelines on the basis of which the seniority will be determined and amount would be released. This argument is not at all impressive because earlier the petitioner, who was at Seniority No.640 has now reduced to Sr.No.230 and therefore the petitioner(s) are entitled and eligible to get the subsidy. Thus, keeping in view the aforesaid facts and circumstances the present petitions are allowed and a direction is issued to the respondents to release/grant the capital subsidy/Investment Incentive, as claimed by the petitioner(s), within a period of two months from the date of receipt of certified copy of this order.
|