https://www.taxtmi.com/caselaws?id=256021 The character of an entertainment tax subsidy depends on the object of the incentive scheme. Where the scheme is designed to promote the setting up of new multiplexes and to offset construction and installation costs needed to make the project operational, the subsidy is a capital receipt. Its source, recurring nature, and collection through deemed deposit by retention of entertainment tax do not change that character. The decisive test is the purpose of the subsidy, not the payment mechanism or timing, so the receipt was treated as capital and not revenue. en-us Fri, 30 Jan 2015 00:00:00 +0530 Thu, 13 Aug 2015 17:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=256021 The character of an entertainment tax subsidy depends on the object of the incentive scheme. Where the scheme is designed to promote the setting up of new multiplexes and to offset construction and installation costs needed to make the project operational, the subsidy is a capital receipt. Its source, recurring nature, and collection through deemed deposit by retention of entertainment tax do not change that character. The decisive test is the purpose of the subsidy, not the payment mechanism or timing, so the receipt was treated as capital and not revenue. Case-Laws Income Tax Fri, 30 Jan 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=256021