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2013 (11) TMI 1249 - HC - Income TaxIncentive/ subsidy on sale of sugar – Capital receipt or not – Held that:- The amount of subsidy received under the Sampath Scheme was capital in nature - The object and the application of subsidy was relevant - The Sampath Scheme may have provided for incentive for expansion or for setting up new unit but no such expansion or new unit was in contemplation - The subsidy under the scheme was given for repayment of the term loans as the incentive to carry on business in the essential commodity - The receipt was revenue receipt – Decided in favour of Revenue.
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