https://www.taxtmi.com/caselaws?id=431341 The Tribunal held that the subsidy received by the assessee should be treated as a capital receipt, not a revenue receipt, based on judicial precedents. The Tribunal allowed the appeal, directing the Assessing Officer to exclude the subsidy from taxable income and provide necessary relief to the assessee. The decision emphasized the Tribunal's authority to entertain additional claims through a rectification petition. The judgment was pronounced in Kolkata on 22nd November 2022. en-us Tue, 22 Nov 2022 00:00:00 +0530 Sat, 10 Dec 2022 10:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=431341 The Tribunal held that the subsidy received by the assessee should be treated as a capital receipt, not a revenue receipt, based on judicial precedents. The Tribunal allowed the appeal, directing the Assessing Officer to exclude the subsidy from taxable income and provide necessary relief to the assessee. The decision emphasized the Tribunal's authority to entertain additional claims through a rectification petition. The judgment was pronounced in Kolkata on 22nd November 2022. Case-Laws Income Tax Tue, 22 Nov 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=431341