https://www.taxtmi.com/caselaws?id=39159 A receipt linked to a government film subsidy scheme was treated as a subsidy or grant tied to film quality and success, not as trading income, because it was not shown to be expected as a return for labour, skill or capital; it was therefore not taxable. Medical expenses reimbursed for a managing director's treatment in the U.S.A. were accepted as commercially expedient and actually incurred, so no rational basis remained for a partial disallowance under the director-benefit restriction; the full expenditure was allowable. The reference was answered entirely in favour of the assessee. en-us Thu, 19 Dec 1974 00:00:00 +0530 Tue, 13 Apr 2010 12:59:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=39159 A receipt linked to a government film subsidy scheme was treated as a subsidy or grant tied to film quality and success, not as trading income, because it was not shown to be expected as a return for labour, skill or capital; it was therefore not taxable. Medical expenses reimbursed for a managing director's treatment in the U.S.A. were accepted as commercially expedient and actually incurred, so no rational basis remained for a partial disallowance under the director-benefit restriction; the full expenditure was allowable. The reference was answered entirely in favour of the assessee. Case-Laws Income Tax Thu, 19 Dec 1974 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=39159