https://www.taxtmi.com/caselaws?id=439037 The Deputy Commissioner of Income Tax appealed against the appellate order passed by the Commissioner of Income Tax (Appeals) regarding interest subsidy received under the Technology Upgradation Fund Scheme. The main issue was whether the subsidy is a capital or revenue receipt. The learned CIT(A) found it to be a capital receipt, which was upheld in this case. The decision favored the assessee, confirming that the interest subsidy is a capital receipt not chargeable to tax. The grounds of appeal raised by the AO were dismissed, and the cross objections by the assessee were also dismissed. en-us Mon, 12 Jun 2023 00:00:00 +0530 Wed, 14 Jun 2023 14:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=439037 The Deputy Commissioner of Income Tax appealed against the appellate order passed by the Commissioner of Income Tax (Appeals) regarding interest subsidy received under the Technology Upgradation Fund Scheme. The main issue was whether the subsidy is a capital or revenue receipt. The learned CIT(A) found it to be a capital receipt, which was upheld in this case. The decision favored the assessee, confirming that the interest subsidy is a capital receipt not chargeable to tax. The grounds of appeal raised by the AO were dismissed, and the cross objections by the assessee were also dismissed. Case-Laws Income Tax Mon, 12 Jun 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=439037