https://www.taxtmi.com/caselaws?id=18386 The court held that the rubber replanting subsidy received by the assessee is not taxable income under the Income-tax Act, 1961. Relying on previous judgments and statutory provisions, the court affirmed that the subsidy aimed at the development of the rubber plantation industry did not constitute income. The decision favored the assessee, following the Full Bench ruling in CIT v. Ruby Rubber Works Ltd. [1989] 178 ITR 181, and directed the Income-tax Appellate Tribunal to take appropriate action. en-us Fri, 07 Jun 1996 00:00:00 +0530 Wed, 30 Sep 2009 16:06:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=18386 The court held that the rubber replanting subsidy received by the assessee is not taxable income under the Income-tax Act, 1961. Relying on previous judgments and statutory provisions, the court affirmed that the subsidy aimed at the development of the rubber plantation industry did not constitute income. The decision favored the assessee, following the Full Bench ruling in CIT v. Ruby Rubber Works Ltd. [1989] 178 ITR 181, and directed the Income-tax Appellate Tribunal to take appropriate action. Case-Laws Income Tax Fri, 07 Jun 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=18386