https://www.taxtmi.com/caselaws?id=179559 The Tribunal upheld the classification of sales tax subsidy as revenue income, following earlier decisions and dismissing the assessee's argument for capital treatment. Regarding disallowance under Section 14A, the Tribunal ruled in favor of the assessee for investments in mutual funds but upheld a partial disallowance for an investment in a non-profit company. The appeal was partly allowed, with the Tribunal favoring the assessee on the disallowance issue but against on the subsidy classification. en-us Mon, 20 Jan 2014 00:00:00 +0530 Fri, 04 Mar 2016 11:10:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=179559 The Tribunal upheld the classification of sales tax subsidy as revenue income, following earlier decisions and dismissing the assessee's argument for capital treatment. Regarding disallowance under Section 14A, the Tribunal ruled in favor of the assessee for investments in mutual funds but upheld a partial disallowance for an investment in a non-profit company. The appeal was partly allowed, with the Tribunal favoring the assessee on the disallowance issue but against on the subsidy classification. Case-Laws Income Tax Mon, 20 Jan 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=179559