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2018 (4) TMI 1572 - HC - Income TaxRevision u/s 263 - whether the subsidy amounts were capital or revenue? - Held that:- This Court is conscious that the CIT has rendered an elaborate finding as to why the amounts could not be treated as capital. ITAT applied its own analysis and set aside the determination. It would, therefore, be in interest of justice that the remit of the A.O should be on the wider question as to the assessee’s contention that whether the subsidy amounts received are in fact capital in nature; the CIT(A) order shall not be therefore construed as prejudicial or conclusive in the matter. The A.O will consequently pass a fresh order based upon his independent analysis as to whether the amount received by way of subsidy is capital or revenue in nature.
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