https://www.taxtmi.com/caselaws?id=15188 The article explains that the tax treatment of a subsidy depends on the scheme governing it and on whether the receipt is capital or revenue in character. It notes that, under section 256(2) of the Income-tax Act, the question whether a subsidy is a capital receipt can raise a referable question of law for the High Court. It also states that a substantially overlapping question on absence of nexus with business activities need not be separately referred because it is covered by the main issue. The operative point is that duplicate reference questions may be declined as redundant. en-us Sat, 17 Apr 1999 00:00:00 +0530 Mon, 03 Aug 2009 15:51:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=15188 The article explains that the tax treatment of a subsidy depends on the scheme governing it and on whether the receipt is capital or revenue in character. It notes that, under section 256(2) of the Income-tax Act, the question whether a subsidy is a capital receipt can raise a referable question of law for the High Court. It also states that a substantially overlapping question on absence of nexus with business activities need not be separately referred because it is covered by the main issue. The operative point is that duplicate reference questions may be declined as redundant. Case-Laws Income Tax Sat, 17 Apr 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=15188