https://www.taxtmi.com/caselaws?id=200780 The High Court of Gujarat affirmed the Appellate Tribunal's decision regarding a subsidy received by the assessee, deeming it capital in nature due to its purpose of encouraging industrial development in less developed areas. The subsidy was intended for setting up pollution-free, employment-intensive industries in backward regions. Citing Sahney Steel & Press Works Ltd., the Court upheld the Tribunal's ruling, emphasizing that the subsidy was not for business operations. As no significant legal issue was identified, the appeal was dismissed, and the Assessing Officer's addition was deleted. en-us Thu, 28 Dec 2006 00:00:00 +0530 Mon, 23 Apr 2018 09:46:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=200780 The High Court of Gujarat affirmed the Appellate Tribunal's decision regarding a subsidy received by the assessee, deeming it capital in nature due to its purpose of encouraging industrial development in less developed areas. The subsidy was intended for setting up pollution-free, employment-intensive industries in backward regions. Citing Sahney Steel & Press Works Ltd., the Court upheld the Tribunal's ruling, emphasizing that the subsidy was not for business operations. As no significant legal issue was identified, the appeal was dismissed, and the Assessing Officer's addition was deleted. Case-Laws Income Tax Thu, 28 Dec 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=200780