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Income Tax - Highlights / Catch Notes

Home Highlights December 2017 Year 2017 This

Nature of receipt under the subsidy scheme - Multiplex Theatre ...

Income Tax

December 17, 2017

Nature of receipt under the subsidy scheme - Multiplex Theatre Complexes - exemption of entertainment duty - the receipt is in the nature of capital receive - not taxable - SC

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  1. Nature of receipt – Entertainment tax – Revenue or capital receipt - the subsidy in respect of Multiplex located at Jaipur to be capital in nature. - AT

  2. Nature of receipt - Entertainment tax exemption in respect of Multiplexes - whether capital or revenue receipts? - where object of respective subsidy schemes of State...

  3. Revenue or capital - entertainment duty subsidy - The fact that the subsidy was not meant for repaying the loan taken for construction of multiplexes cannot be a ground...

  4. Revenue or capital receipt - sales tax subsidy/incentive under the Package Scheme of Incentives Scheme, 1993 - The High Court held that the sales tax subsidy/incentive...

  5. Sales tax subsidy treated as capital receipt - nature of receipt - Whether the subsidy amount can be adjusted in the cost of depreciable assets? - AT

  6. Nature of subsidy received - Capital or revenue receipt - amount given as subsidy to meet any revenue expenditure can safely be termed as revenue receipt - HC

  7. Taxability of entertainment tax subsidy received by the assessee - Nature of receipts - Entertainment tax subsidy granted by the State Government is not for the purpose...

  8. Nature of incentive subsidy - Capital or revenue receipt - subsidy on the purchase of generator set - the same is capital subsidy and should go on to reduce the cost of asset - AT

  9. Capital or revenue receipt - incentives - excise duty refund, interest subsidy and insurance subsidy held as capital receipts .... – HC

  10. Collection of Entertainment tax is a trading receipt or not - irrespective of the fact that the multiplexes have been constructed out of own funds or borrowed funds the...

 

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