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2023 (6) TMI 881 - AT - Income TaxEntertainment tax exemption in respect of Multiplexes - Nature of receipt - whether capital or revenue receipts? - object of respective subsidy schemes of State Governments - HELD THAT:- As gone through the judgment passed by the Hon’ble Apex Court Chaphalkar Brothers Pune [2017 (12) TMI 816 - SUPREME COURT] wherein issue has been decided in favour of the assessee by upholding the order passed by the Hon’ble Bombay High Court [2013 (6) TMI 73 - BOMBAY HIGH COURT] to this effect that where object of respective subsidy schemes of State Governments was to encourage development of Multiple Theatre Complexes, incentives has been held to be capital in nature and not revenue receipts. Thus, CIT(A) has rightly held in favour of the assessee.
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