https://www.taxtmi.com/caselaws?id=288425 The Tribunal ruled in favor of the assessee, upholding the treatment of the subsidy as a capital receipt under the Package Scheme of Incentives, 2007. It also held that the share premium received in a prior assessment year could not be questioned in a subsequent year. Furthermore, the Tribunal determined that the Principal Commissioner of Income Tax could not direct the initiation of penalty proceedings under Section 271B in the context of Section 263. en-us Thu, 28 Feb 2019 00:00:00 +0530 Sat, 06 Jun 2020 10:46:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=288425 The Tribunal ruled in favor of the assessee, upholding the treatment of the subsidy as a capital receipt under the Package Scheme of Incentives, 2007. It also held that the share premium received in a prior assessment year could not be questioned in a subsequent year. Furthermore, the Tribunal determined that the Principal Commissioner of Income Tax could not direct the initiation of penalty proceedings under Section 271B in the context of Section 263. Case-Laws Income Tax Thu, 28 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=288425