https://www.taxtmi.com/caselaws?id=430107 The Tribunal directed the Assessing Officer to treat the subsidy received under the Package Scheme of Incentive (PSI-2007) as a capital receipt, overturning the previous classification as a revenue receipt. The decision aligned with precedents such as Mahindra Two Wheelers Ltd. and Klaus Multiparking Systems Pvt Ltd., emphasizing that the purpose of the subsidy determines its nature. The appeal was allowed, and the assessee's grounds were accepted, resulting in the deletion of the addition. en-us Mon, 31 Oct 2022 00:00:00 +0530 Thu, 10 Nov 2022 11:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=430107 The Tribunal directed the Assessing Officer to treat the subsidy received under the Package Scheme of Incentive (PSI-2007) as a capital receipt, overturning the previous classification as a revenue receipt. The decision aligned with precedents such as Mahindra Two Wheelers Ltd. and Klaus Multiparking Systems Pvt Ltd., emphasizing that the purpose of the subsidy determines its nature. The appeal was allowed, and the assessee's grounds were accepted, resulting in the deletion of the addition. Case-Laws Income Tax Mon, 31 Oct 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=430107