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2007 (8) TMI 302 - HC - Income TaxTribunal hold that the financial assistance received by government, is a revenue receipt chargeable to tax - appellant is not able to produce any material to establish his case that the assistance has been treated by them as a capital receipt and has been used for extension or modernization of the unit - assistance was made to help the trader to carry on his business, hence it should be treated as revenue receipt – order of tribunal is justified – appeal by assessee is dismissed
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