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2009 (7) TMI 737 - ALLAHABAD HIGH COURTRevenue or Capital receipt - Whether on the facts and in the circumstances of the case, the Tribunal was legally justified in deleting the addition on account of addition of incentive realized on additional free sugar sale treating revenue receipt made by the Assessing Officer and confirmed by the Commissioner of Income tax (Appeals), Bareilly? Held that - in the decision of CIT v. Ponni Sugars and Chemicals Ltd, the Supreme Court held that main eligibility condition for the scheme was that the incentive had to be utilized for the repayment of loans taken by the assessee to set up new units or substantial expansion of an existing unit and that the subsidy received by the assessee was not in the course of trade. It was a capital receipt.
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