https://www.taxtmi.com/caselaws?id=422836 The Tribunal dismissed the Revenue's appeal, affirming that the subsidy in the form of octroi refund was capital, not taxable as revenue. It was held that Section 28(iv) does not cover monetary benefits. The decision relied on the purpose of the subsidy and various court precedents. The appeal was dismissed on May 19, 2022. en-us Thu, 19 May 2022 00:00:00 +0530 Mon, 23 May 2022 14:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=422836 The Tribunal dismissed the Revenue's appeal, affirming that the subsidy in the form of octroi refund was capital, not taxable as revenue. It was held that Section 28(iv) does not cover monetary benefits. The decision relied on the purpose of the subsidy and various court precedents. The appeal was dismissed on May 19, 2022. Case-Laws Income Tax Thu, 19 May 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=422836