https://www.taxtmi.com/caselaws?id=30719 SC held the incentive subsidy paid under the Scheme was capital in nature, not revenue, because receipt was conditioned on repayment of term loans for setting up/expanding units; that question answered for the assessee against the Department. However, entitlement to exemption under s.80P(2)(a)(i) requires factual proof that the co-operative carried on specified businesses (e.g., banking/credit), which the Tribunal had not examined. The High Court judgments were set aside and matters remitted to the Tribunal for de novo consideration; appeals by the Department were partly allowed. en-us Tue, 16 Sep 2008 00:00:00 +0530 Wed, 22 Apr 2026 11:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=30719 SC held the incentive subsidy paid under the Scheme was capital in nature, not revenue, because receipt was conditioned on repayment of term loans for setting up/expanding units; that question answered for the assessee against the Department. However, entitlement to exemption under s.80P(2)(a)(i) requires factual proof that the co-operative carried on specified businesses (e.g., banking/credit), which the Tribunal had not examined. The High Court judgments were set aside and matters remitted to the Tribunal for de novo consideration; appeals by the Department were partly allowed. Case-Laws Income Tax Tue, 16 Sep 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=30719