TaxTMI 
TaxTMI 
2013 (6) TMI 73
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....f multiplexes is in the nature of revenue receipt or capital receipt is the question raised in these appeals. According to the Revenue, in the light of the judgment of the apex court in the case of Sahney Steel and Press Works Ltd. v. CIT reported in [1997] 228 ITR 253 (SC), the entertainment duty subsidy received by the assessee must be held to be revenue receipt because, the subsidy is granted ....
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....sidy is paid is not relevant. The source is immaterial. The form of subsidy is immaterial. The main eligibility condition in the scheme with which we are concerned in this case is that the incentive must be utilized for repayment of loans taken by the assessee to set up new units or for substantial expansion of existing units. On this aspect there is no dispute. If the object of the subsidy scheme....
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.... average occupancy in cinema theatre has fallen considerably and hardly any new theatres have been started in the recent past. Public at large these days prefer to see movies at home. Keeping in view this scenario, a concept of complete family entertainment centre, more popularly known as 'multiplex theatre complex' has emerged. These multiplex theatre complexes offer various entertainment facilit....