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2003 (7) TMI 63 - HC - Income TaxAssessee-company is engaged in the business of manufacture of asbestos sheets. The assessee-company claimed that the transport subsidy being in the nature of capital receipt should be excluded from the total income. The assessee-claimed that the transport subsidy is granted with reference to the cost of transporting raw materials and finished goods to and fro from the backward areas - The matter is remanded to the assessing authority to consider the question of subsidy in the light of the decision of the apex court in Sahney Steel and Press Works Ltd.'s case
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