Supreme Court dismisses Revenue's appeal, upholds no penalty for assessee's subsidy treatment as capital receipt.

Supreme Court dismisses Revenue's appeal, upholds no penalty for assessee's subsidy treatment as capital receipt. https://www.taxtmi.com/highlights?id=74491 Levy of penalty - debatable issue - As per AO assessee treated the revenue receipt of subsidy as capital receipt - As per High Court no error in the findings recorded by Tribunal while setting aside penalty - With the Supreme Court dismissing the Special Leave Petition (SLP) filed by the Revenue against the order, the decision of the lower courts stands affirmed. en-us Tue, 30 Jan 2024 08:52:04 +0530 Tue, 30 Jan 2024 08:52:04 +0530 TaxTMI RSS Generator Supreme Court dismisses Revenue's appeal, upholds no penalty for assessee's subsidy treatment as capital receipt. https://www.taxtmi.com/highlights?id=74491 Levy of penalty - debatable issue - As per AO assessee treated the revenue receipt of subsidy as capital receipt - As per High Court no error in the findings recorded by Tribunal while setting aside penalty - With the Supreme Court dismissing the Special Leave Petition (SLP) filed by the Revenue against the order, the decision of the lower courts stands affirmed. Highlights Income Tax Tue, 30 Jan 2024 08:52:04 +0530 https://www.taxtmi.com/highlights?id=74491