https://www.taxtmi.com/caselaws?id=278624 The Tribunal held that the Rs. 20 lakhs incentive received by the assessee was a capital receipt, not taxable as revenue. The subsidy was deemed a capital receipt under the Package Scheme of Incentive, 1993, for setting up a new unit in a backward area. The Tribunal dismissed the Revenue's appeal, stating the amount should not be reduced from the cost of assets for depreciation calculation. The decision was pronounced on 21st September 2012. en-us Fri, 21 Sep 2012 00:00:00 +0530 Thu, 14 Feb 2019 15:07:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=278624 The Tribunal held that the Rs. 20 lakhs incentive received by the assessee was a capital receipt, not taxable as revenue. The subsidy was deemed a capital receipt under the Package Scheme of Incentive, 1993, for setting up a new unit in a backward area. The Tribunal dismissed the Revenue's appeal, stating the amount should not be reduced from the cost of assets for depreciation calculation. The decision was pronounced on 21st September 2012. Case-Laws Income Tax Fri, 21 Sep 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=278624