https://www.taxtmi.com/caselaws?id=26464 The court upheld the Tribunal's decision to delete the additions made by the Income-tax Officer regarding sales tax subsidies received by the assessee for the assessment years 1979-80 and 1980-81. The court determined that the subsidies were capital receipts intended to incentivize capital investment in backward areas, not to increase profits. As such, the subsidies were not taxable as income. The court ruled in favor of the assessee, deeming the additions for the respective assessment years as non-taxable. en-us Mon, 04 Nov 1985 00:00:00 +0530 Fri, 05 Feb 2010 11:53:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=26464 The court upheld the Tribunal's decision to delete the additions made by the Income-tax Officer regarding sales tax subsidies received by the assessee for the assessment years 1979-80 and 1980-81. The court determined that the subsidies were capital receipts intended to incentivize capital investment in backward areas, not to increase profits. As such, the subsidies were not taxable as income. The court ruled in favor of the assessee, deeming the additions for the respective assessment years as non-taxable. Case-Laws Income Tax Mon, 04 Nov 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=26464