https://www.taxtmi.com/caselaws?id=286873 The Appellate Tribunal upheld the Commissioner of Income Tax (Appeals)'s decisions on both issues, ruling in favor of the assessee and dismissing the Revenue's appeal. The interest subsidy received under the Technology Upgradation Fund Scheme was considered a capital receipt, enhancing technology in the textile industry. The disallowance of employees' provident fund contribution for delayed payment was overturned as it was paid before the due date under the Income Tax Act, supported by relevant High Court decisions. The Tribunal found no contradictory decisions from the jurisdictional High Court and affirmed the Commissioner's orders. en-us Mon, 30 Jul 2018 00:00:00 +0530 Thu, 19 Mar 2020 10:07:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=286873 The Appellate Tribunal upheld the Commissioner of Income Tax (Appeals)'s decisions on both issues, ruling in favor of the assessee and dismissing the Revenue's appeal. The interest subsidy received under the Technology Upgradation Fund Scheme was considered a capital receipt, enhancing technology in the textile industry. The disallowance of employees' provident fund contribution for delayed payment was overturned as it was paid before the due date under the Income Tax Act, supported by relevant High Court decisions. The Tribunal found no contradictory decisions from the jurisdictional High Court and affirmed the Commissioner's orders. Case-Laws Income Tax Mon, 30 Jul 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=286873