https://www.taxtmi.com/circulars?id=4544 Amounts under the 10 per cent Central Outright Grant of Subsidy Scheme are treated as capital receipt because the subsidy is a contribution towards capital outlay, its quantum is determined with reference to fixed capital (with working capital excluded), and recipients must remain in production for a prescribed period, evidencing the capital character for income-tax purposes. en-us Thu, 01 Aug 1974 00:00:00 +0530 Wed, 30 Jul 2008 14:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=4544 Amounts under the 10 per cent Central Outright Grant of Subsidy Scheme are treated as capital receipt because the subsidy is a contribution towards capital outlay, its quantum is determined with reference to fixed capital (with working capital excluded), and recipients must remain in production for a prescribed period, evidencing the capital character for income-tax purposes. Circulars Income Tax Thu, 01 Aug 1974 00:00:00 +0530 https://www.taxtmi.com/circulars?id=4544