https://www.taxtmi.com/caselaws?id=247659 The High Court upheld the Income Tax Appellate Tribunal's decision that a special capital incentive received by the predecessor in title of the assessee was a capital receipt. The court emphasized that the purpose of the incentive was to facilitate setting up a new industry, aligning with previous judgments. The Revenue's challenge was dismissed, with the court warning against persisting with such challenges that could impede schemes promoting industrial growth. The judgment stressed the importance of understanding the purpose behind subsidies and incentives in determining their nature correctly. en-us Thu, 17 Apr 2014 00:00:00 +0530 Sat, 21 Feb 2015 14:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=247659 The High Court upheld the Income Tax Appellate Tribunal's decision that a special capital incentive received by the predecessor in title of the assessee was a capital receipt. The court emphasized that the purpose of the incentive was to facilitate setting up a new industry, aligning with previous judgments. The Revenue's challenge was dismissed, with the court warning against persisting with such challenges that could impede schemes promoting industrial growth. The judgment stressed the importance of understanding the purpose behind subsidies and incentives in determining their nature correctly. Case-Laws Income Tax Thu, 17 Apr 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=247659