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2013 (8) TMI 970 - ITAT CHANDIGARHAssessability of sales tax subsidy received from the Government of Gujarat - Revenue receipt OR capital receipt - Held that:- Sales tax subsidy received by the assessee is revenue in nature. We are in conformity with the submission of the assessee that the subsidy received by the assessee held to be revenue receipt, being linked to the business activity, is taxable in the hands of the assessee as business income. Reversing the order of the CIT (Appeals) we direct the Assessing Officer to include the subsidy received by the assessee as income from business. - Decided in favour of assessee.
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