https://www.taxtmi.com/caselaws?id=66404 The Tribunal allowed the appeal in part, ruling that the subsidy of Rs. 14,665 received by the assessee was a capital receipt and not to be included in the total income. The provisions of Section 41(1) and Section 28(iv) were deemed inapplicable to the subsidy. The Tribunal found that the subsidy fell within the scope of the CBDT Circular No. 142, which classified such subsidies as capital receipts, thereby supporting the capital nature of the subsidy. en-us Sat, 24 Jan 1981 00:00:00 +0530 Thu, 24 Feb 2011 15:19:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=66404 The Tribunal allowed the appeal in part, ruling that the subsidy of Rs. 14,665 received by the assessee was a capital receipt and not to be included in the total income. The provisions of Section 41(1) and Section 28(iv) were deemed inapplicable to the subsidy. The Tribunal found that the subsidy fell within the scope of the CBDT Circular No. 142, which classified such subsidies as capital receipts, thereby supporting the capital nature of the subsidy. Case-Laws Income Tax Sat, 24 Jan 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=66404