Taxation of Cash Subsidies Upon Receipt Upheld by High Court

The High Court of Allahabad upheld the Tribunal's decision that cash subsidies should be taxed in the year of receipt, based on past practice. The assessee's request for a change for the relevant assessment year was dismissed with no costs.

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The High Court of Allahabad upheld the Tribunal's decision that cash subsidies should be taxed in the year of receipt, based on past practice. The assessee did not request a change for the relevant assessment year, and the application was dismissed with no costs.

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