https://www.taxtmi.com/caselaws?id=406559 The Tribunal classified the subsidy received by the assessee as capital in nature, intended to encourage setting up industries in less developed areas. The subsidy of Rs. 3,51,550 under the Package Scheme of Incentives - 2007 was deemed capital, overturning the revenue classification by lower authorities. The appeal was allowed, and the subsidy was held to be capital in nature. en-us Tue, 06 Apr 2021 00:00:00 +0530 Fri, 16 Apr 2021 09:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=406559 The Tribunal classified the subsidy received by the assessee as capital in nature, intended to encourage setting up industries in less developed areas. The subsidy of Rs. 3,51,550 under the Package Scheme of Incentives - 2007 was deemed capital, overturning the revenue classification by lower authorities. The appeal was allowed, and the subsidy was held to be capital in nature. Case-Laws Income Tax Tue, 06 Apr 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=406559