https://www.taxtmi.com/caselaws?id=329181 The Tribunal upheld the CIT(A)'s decision in a tax case, ruling that the capital subsidy under the Bihar Incentive Package should not be deducted from the WDV of plant and machinery. Additionally, the subsidy received as reimbursement of commercial tax (VAT) was classified as a capital receipt, not a revenue receipt. The Tribunal determined that these subsidies should not be added to the book profits under section 115JB. Consequently, the Revenue's appeal for the assessment year 2011-12 was dismissed. en-us Wed, 22 Jun 2016 00:00:00 +0530 Fri, 24 Jun 2016 14:55:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=329181 The Tribunal upheld the CIT(A)'s decision in a tax case, ruling that the capital subsidy under the Bihar Incentive Package should not be deducted from the WDV of plant and machinery. Additionally, the subsidy received as reimbursement of commercial tax (VAT) was classified as a capital receipt, not a revenue receipt. The Tribunal determined that these subsidies should not be added to the book profits under section 115JB. Consequently, the Revenue's appeal for the assessment year 2011-12 was dismissed. Case-Laws Income Tax Wed, 22 Jun 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=329181