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2021 (2) TMI 862 - AT - Income TaxCharacterization of receipt - Sales tax subsidy under Industrial Investment Promotion scheme - Revenue or capital subsidy - HELD THAT:- The Purpose of subsidy received by the assessee during the year is towards meeting out the capital investment made to set up the Unit-II project in a backward area and the subsidy so received during the year is capital subsidy. Thus, no interference is called for in the finding of the Ld. CIT(A). See VINDHYA TELELINKS LTD. AND VICE-VERSA [2015 (2) TMI 1345 - ITAT JABALPUR], UNIVERSAL CABLES LTD. AND OTHERS VERSUS DEPUTY COMMISSIONER OF INCOME-TAX AND OTHERS [2015 (5) TMI 650 - ITAT KOLKATA] - All grounds raised by the Revenue are dismissed.
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