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2022 (11) TMI 531 - AT - Income TaxNature of receipt - claim of subsidy under PSI-2007 - revenue or capital receipt - end-use or utilization of such subsidy - HELD THAT:- As relying on Mahindra Two Wheelers Ltd [2019 (7) TMI 1939 - ITAT MUMBAI] and KLAUS MULTIPARKING SYSTEM PVT. LTD. [2018 (5) TMI 341 - ITAT PUNE] we direct the AO to treat the subsidy received under PSI-2007 as Capital receipt and delete the addition. The grounds raised by the assessee are accordingly allowed.
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