https://www.taxtmi.com/caselaws?id=286195 The High Court of Calcutta remanded the case back to the Tribunal for a fresh decision on whether a subsidy received by the assessee company should be classified as a capital or revenue receipt. The Court emphasized the need for a detailed analysis of the subsidy scheme to determine its utilization in meeting interest liabilities related to plant and machinery setup. The Tribunal was instructed to independently evaluate the scheme, hear both parties, and issue a reasoned order within three months. The Court set aside the Tribunal's previous decision and disposed of the appeal accordingly (ITA 15 of 2019). en-us Wed, 27 Mar 2019 00:00:00 +0530 Sun, 16 Feb 2020 08:56:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=286195 The High Court of Calcutta remanded the case back to the Tribunal for a fresh decision on whether a subsidy received by the assessee company should be classified as a capital or revenue receipt. The Court emphasized the need for a detailed analysis of the subsidy scheme to determine its utilization in meeting interest liabilities related to plant and machinery setup. The Tribunal was instructed to independently evaluate the scheme, hear both parties, and issue a reasoned order within three months. The Court set aside the Tribunal's previous decision and disposed of the appeal accordingly (ITA 15 of 2019). Case-Laws Income Tax Wed, 27 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=286195