https://www.taxtmi.com/caselaws?id=18550 The court determined that the subsidy received from SIPCOT should be treated as a revenue receipt, not a capital receipt, for the assessment years 1979-80 and 1980-81. The subsidy was given in instalments to recoup revenue expenditure, aligning with precedents like V. S. S. V. Meenakshi Achi v. CIT [1966] 60 ITR 253 (SC). The court distinguished the case from precedents holding subsidies as capital receipts and emphasized that the subsidy directly related to revenue expenditure. No costs were awarded in this decision. en-us Tue, 19 Sep 1995 00:00:00 +0530 Thu, 01 Oct 2009 15:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=18550 The court determined that the subsidy received from SIPCOT should be treated as a revenue receipt, not a capital receipt, for the assessment years 1979-80 and 1980-81. The subsidy was given in instalments to recoup revenue expenditure, aligning with precedents like V. S. S. V. Meenakshi Achi v. CIT [1966] 60 ITR 253 (SC). The court distinguished the case from precedents holding subsidies as capital receipts and emphasized that the subsidy directly related to revenue expenditure. No costs were awarded in this decision. Case-Laws Income Tax Tue, 19 Sep 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=18550