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2015 (4) TMI 443 - MADHYA PRADESH HIGH COURTSpecial investment subsidy - subsidy received from the state govt. for employing persons belonging to scheduled caste and scheduled tribe categories of M.P. State at its industrial unit, established in the selected backward districts of Madhya Pradesh - whether was not in the nature of capital receipt in view of the judgment of Sahney Steels and Press Works Ltd. vs. CIT [1997 (9) TMI 3 - SUPREME Court] as held by Tribunal - Held that:- No hesitation in holding that the subsidy in the hands of the assessee in the present case M/s Veener & Plywood P. Ltd. are of revenue in nature and would be liable to tax accordingly. The Apex Court decision was passed in the year 1997 still holds the field and there is no valid reason urged to deviate from the ratio laid down by the Apex Court. - Decided in favour of assessee.
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