https://www.taxtmi.com/caselaws?id=288420 The appellate tribunal ruled in favor of the assessee, determining that the refund received from the State Electricity Board, along with the saved amount due to concession, constituted a capital receipt not taxable as income. The tribunal found that the refund was part of a scheme to promote industrial growth, aligning with the purpose of capital subsidies, and contributed to the capital outlay of the industrial unit. The decision emphasized that the entire amount was capital in nature, supporting the argument that the subsidy aimed to facilitate industrial growth and capital investment. en-us Sat, 03 Apr 1982 00:00:00 +0530 Fri, 05 Jun 2020 17:16:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=288420 The appellate tribunal ruled in favor of the assessee, determining that the refund received from the State Electricity Board, along with the saved amount due to concession, constituted a capital receipt not taxable as income. The tribunal found that the refund was part of a scheme to promote industrial growth, aligning with the purpose of capital subsidies, and contributed to the capital outlay of the industrial unit. The decision emphasized that the entire amount was capital in nature, supporting the argument that the subsidy aimed to facilitate industrial growth and capital investment. Case-Laws Income Tax Sat, 03 Apr 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=288420