https://www.taxtmi.com/caselaws?id=337773 The Court held that the subsidy received as Excise Duty reimbursement was of a capital nature, not a revenue receipt, aimed at promoting capital investments. As such, the subsidy could not be added to book profits under the Income Tax Act. The Court found that the Tribunal correctly applied the test to determine the nature of the subsidy and dismissed the appeal, stating that the issues raised did not present substantial legal questions. No costs were awarded in the matter. en-us Wed, 04 Jan 2017 00:00:00 +0530 Tue, 17 Jan 2017 08:17:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=337773 The Court held that the subsidy received as Excise Duty reimbursement was of a capital nature, not a revenue receipt, aimed at promoting capital investments. As such, the subsidy could not be added to book profits under the Income Tax Act. The Court found that the Tribunal correctly applied the test to determine the nature of the subsidy and dismissed the appeal, stating that the issues raised did not present substantial legal questions. No costs were awarded in the matter. Case-Laws Income Tax Wed, 04 Jan 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=337773