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2020 (10) TMI 242 - AT - Income TaxCharacterization of income - Revenue receipt or capital receipt - subsidy on account of Octroi refund - revenue receipt treated by AO - Assessee claimed the said subsidy granted by the Government of Maharashtra as per the scheme of PSI-2007 Scheme to set up plant or development of plant in backward areas - HELD THAT:- In the light of decision of Chaphlkar Brothers Pune [2017 (12) TMI 816 - SUPREME COURT] we hold that the assessee is entitled to treat the Octroi refund as capital in nature and it is not chargeable to tax. Thus, the order of CIT(A) fails and it is set aside. - Decided in favour of assessee.
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