https://www.taxtmi.com/highlights?id=73503 Characterisation of receipt - industrial Promotion Subsidy (IPS) received - the subsidy was short recognized by the assessee in earlier years and therefore the excess amount i.e. difference between amount recognized and amount finally disbursed was credited in P&L A/c during the year. As rightly pointed out by the Ld. AR, the nature of the subsidy which was short recognized in earlier year/s remains the same i.e. capital in nature. - AT en-us Sat, 09 Dec 2023 13:24:39 +0530 Sat, 09 Dec 2023 13:24:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=73503 Characterisation of receipt - industrial Promotion Subsidy (IPS) received - the subsidy was short recognized by the assessee in earlier years and therefore the excess amount i.e. difference between amount recognized and amount finally disbursed was credited in P&L A/c during the year. As rightly pointed out by the Ld. AR, the nature of the subsidy which was short recognized in earlier year/s remains the same i.e. capital in nature. - AT Highlights Income Tax Sat, 09 Dec 2023 13:24:39 +0530 https://www.taxtmi.com/highlights?id=73503