https://www.taxtmi.com/caselaws?id=30931 The High Court upheld the decision of the Tribunal and dismissed the tax case, ruling that the subsidy received by the non-banking finance company during a search operation should be assessed only under regular assessment and not as part of the block period assessment. The Court found that the authorities' decision to tax the subsidy income in regular assessment was supported by valid evidence and materials, and there was no justification for interference with the Tribunal's order. Consequently, the Court concluded that no substantial question of law arose for consideration. en-us Wed, 05 Jul 2006 00:00:00 +0530 Tue, 20 Sep 2011 18:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=30931 The High Court upheld the decision of the Tribunal and dismissed the tax case, ruling that the subsidy received by the non-banking finance company during a search operation should be assessed only under regular assessment and not as part of the block period assessment. The Court found that the authorities' decision to tax the subsidy income in regular assessment was supported by valid evidence and materials, and there was no justification for interference with the Tribunal's order. Consequently, the Court concluded that no substantial question of law arose for consideration. Case-Laws Income Tax Wed, 05 Jul 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=30931