https://www.taxtmi.com/caselaws?id=278278 The High Court upheld the Tribunal's decision regarding the taxation of a subsidy received from the Government of Gujarat. The subsidy, meant for loan repayment related to capital assets for water projects, was deemed a capital receipt and not taxable as revenue. The Court dismissed the Tax Appeal, affirming that subsidies for specific capital purposes are not considered revenue receipts, in line with legal precedents and the Apex Court's interpretation. en-us Mon, 04 Jul 2011 00:00:00 +0530 Tue, 22 Jan 2019 16:29:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=278278 The High Court upheld the Tribunal's decision regarding the taxation of a subsidy received from the Government of Gujarat. The subsidy, meant for loan repayment related to capital assets for water projects, was deemed a capital receipt and not taxable as revenue. The Court dismissed the Tax Appeal, affirming that subsidies for specific capital purposes are not considered revenue receipts, in line with legal precedents and the Apex Court's interpretation. Case-Laws Income Tax Mon, 04 Jul 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=278278