Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 1988 (11) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
1988 (11) TMI 48 - HC - Income TaxExtract: .......mpany at the instance of the apex body would amount to a capital receipt. For the reasons recorded above, we answer the second question in the affirmative, that is, in favour of the assessee and hold that the amount of Rs. 25,000 received by it from MARKFED by way of subsidy was a capital receipt. The assessee shall have the costs from the Revenue.
|