https://www.taxtmi.com/caselaws?id=216628 The Tribunal upheld the CIT (A)'s decision to delete the additions made by the Assessing Officer on account of grants received by the assessee Nigam for infrastructure projects. The grants were considered capital in nature for specific projects, and the Tribunal agreed that they should not be treated as income without deducting corresponding expenditure. The Tribunal emphasized the commercial approach to determining income and the importance of accounting for related expenses. Consequently, the department's appeals for Assessment Years 2004-05, 2005-06, and 2007-08 were rejected. en-us Thu, 05 Jul 2012 00:00:00 +0530 Fri, 07 Sep 2012 09:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=216628 The Tribunal upheld the CIT (A)'s decision to delete the additions made by the Assessing Officer on account of grants received by the assessee Nigam for infrastructure projects. The grants were considered capital in nature for specific projects, and the Tribunal agreed that they should not be treated as income without deducting corresponding expenditure. The Tribunal emphasized the commercial approach to determining income and the importance of accounting for related expenses. Consequently, the department's appeals for Assessment Years 2004-05, 2005-06, and 2007-08 were rejected. Case-Laws Income Tax Thu, 05 Jul 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=216628