https://www.taxtmi.com/caselaws?id=376893 The High Court ruled in favor of the appellant, determining that the capital subsidy received from a foreign company for investing in a joint venture was a capital receipt and not taxable as revenue. The court found the subsidy was intended for the appellant's share of the joint venture's capital requirements and was invested in the joint venture company's share capital. The issues regarding the taxability of bad debts recovered and the treatment of contingent deposits as income were not extensively addressed as the appellant did not emphasize these matters during the proceedings. en-us Wed, 06 Mar 2019 00:00:00 +0530 Wed, 15 May 2019 16:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=376893 The High Court ruled in favor of the appellant, determining that the capital subsidy received from a foreign company for investing in a joint venture was a capital receipt and not taxable as revenue. The court found the subsidy was intended for the appellant's share of the joint venture's capital requirements and was invested in the joint venture company's share capital. The issues regarding the taxability of bad debts recovered and the treatment of contingent deposits as income were not extensively addressed as the appellant did not emphasize these matters during the proceedings. Case-Laws Income Tax Wed, 06 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=376893