https://www.taxtmi.com/caselaws?id=388501 The Tribunal dismissed the Revenue's appeal in its entirety, upholding the CIT(A)'s orders on both issues. The first issue involved the deletion of an addition for repairs and maintenance, with the Tribunal agreeing that the expenditure did not result in a new asset, affirming the CIT(A)'s decision. The second issue concerned the allowance of an excise subsidy as a capital receipt, which the Tribunal upheld based on the purpose of the subsidy for industrial development and job creation, in line with judicial precedents. en-us Wed, 13 Nov 2019 00:00:00 +0530 Sat, 16 Nov 2019 15:44:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=388501 The Tribunal dismissed the Revenue's appeal in its entirety, upholding the CIT(A)'s orders on both issues. The first issue involved the deletion of an addition for repairs and maintenance, with the Tribunal agreeing that the expenditure did not result in a new asset, affirming the CIT(A)'s decision. The second issue concerned the allowance of an excise subsidy as a capital receipt, which the Tribunal upheld based on the purpose of the subsidy for industrial development and job creation, in line with judicial precedents. Case-Laws Income Tax Wed, 13 Nov 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=388501