https://www.taxtmi.com/caselaws?id=294469 The tribunal classified the power subsidy received by the assessee from the Government of Andhra Pradesh as a capital receipt, emphasizing its purpose to promote industrial investment. The tribunal overturned the lower authorities' classification of the subsidy as a revenue receipt, citing the "purpose test" from relevant Supreme Court judgments. Consequently, the appeal was allowed, and the power subsidy was deemed a capital receipt. en-us Wed, 29 Aug 2018 00:00:00 +0530 Fri, 16 Apr 2021 08:54:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=294469 The tribunal classified the power subsidy received by the assessee from the Government of Andhra Pradesh as a capital receipt, emphasizing its purpose to promote industrial investment. The tribunal overturned the lower authorities' classification of the subsidy as a revenue receipt, citing the "purpose test" from relevant Supreme Court judgments. Consequently, the appeal was allowed, and the power subsidy was deemed a capital receipt. Case-Laws Income Tax Wed, 29 Aug 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=294469