Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2018 (8) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2018 (8) TMI 2132 - AT - Income TaxNature of receipt - subsidy received - revenue or capital receipt - AO noted that the subsidy was received after commencement of production and, therefore, it is the nature of revenue subsidy because it was given to the assessee after commencement of production to enable it to run the business more profitably and it is an operation subsidy - HELD THAT:- We find identical issue had come up before the Tribunal in assessee’s own case [2015 (11) TMI 1865 - ITAT RAIPUR] as upheld the order of the ld. CIT(A) deleting the addition. While doing so, the Tribunal has followed the decision of Reliance Industries Ltd. [2003 (10) TMI 255 - ITAT BOMBAY-J], therefore, in absence of any contrary material brought to our notice, we do not find any infirmity in the order of the ld. CIT(A) deleting the addition made by the Assessing Officer. The ground raised by the Revenue is accordingly dismissed.
|