https://www.taxtmi.com/caselaws?id=183012 The court upheld the previous decision that the entertainment tax exemptions received by the assessee for its multiplex units should be treated as capital receipts, not taxable as revenue. The court emphasized that the subsidies were linked to capital investments and were intended to recoup such investments. The appeal was dismissed, with a note that any contrary view by the Apex Court in the ongoing appeal would be followed, allowing the Revenue to act accordingly. en-us Mon, 16 Feb 2015 00:00:00 +0530 Thu, 17 Nov 2016 12:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=183012 The court upheld the previous decision that the entertainment tax exemptions received by the assessee for its multiplex units should be treated as capital receipts, not taxable as revenue. The court emphasized that the subsidies were linked to capital investments and were intended to recoup such investments. The appeal was dismissed, with a note that any contrary view by the Apex Court in the ongoing appeal would be followed, allowing the Revenue to act accordingly. Case-Laws Income Tax Mon, 16 Feb 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=183012