TMI BlogTaxability of subsidy - revenue of capital - subsidy to establish the industrial unit in backward...Taxability of subsidy - revenue of capital - subsidy to establish the industrial unit in backward regions of the Maharashtra State is in nature of capital receipt - quantification in the form of rebate on the Excise duty does not alter the nature of subsidy from capital to a revenue receipt - insertion of sub-clause (xviii) in Section 2(24) is prospective and effective from AY 2016-17 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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