https://www.taxtmi.com/caselaws?id=24455 The High Court of Andhra Pradesh held that a subsidy of Rs. 50,000 granted to an assessee for producing a feature film was not taxable as a revenue receipt under the Income-tax Act, 1961. The subsidy was deemed an inducement for film production, not directly linked to business operations or profitability. The court distinguished the case from CIT v. Sahney Steel and Press Works Ltd., where subsidies were considered revenue receipts tied to operational costs. The court affirmed the Tribunal's decision, ruling in favor of the assessee and against the Revenue. en-us Fri, 05 Aug 1988 00:00:00 +0530 Mon, 16 Feb 2015 10:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=24455 The High Court of Andhra Pradesh held that a subsidy of Rs. 50,000 granted to an assessee for producing a feature film was not taxable as a revenue receipt under the Income-tax Act, 1961. The subsidy was deemed an inducement for film production, not directly linked to business operations or profitability. The court distinguished the case from CIT v. Sahney Steel and Press Works Ltd., where subsidies were considered revenue receipts tied to operational costs. The court affirmed the Tribunal's decision, ruling in favor of the assessee and against the Revenue. Case-Laws Income Tax Fri, 05 Aug 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=24455