https://www.taxtmi.com/caselaws?id=459692 The HC of Calcutta disposed of the revenue's appeal concerning the classification of a subsidy as a revenue or capital receipt for taxation. The Court determined that the appeal was unnecessary to examine due to a subsequent Tribunal order allowing a deduction for the refunded subsidy amount in the assessment year 2002-03. This order effectively reinstated the Commissioner of Income Tax (Appeals) decision from 1997. Consequently, the Court found the impugned order irrelevant and left the substantial question of law unanswered, aligning the tax treatment with the Tribunal's decision. en-us Mon, 13 Feb 2023 00:00:00 +0530 Mon, 23 Dec 2024 20:05:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=459692 The HC of Calcutta disposed of the revenue's appeal concerning the classification of a subsidy as a revenue or capital receipt for taxation. The Court determined that the appeal was unnecessary to examine due to a subsequent Tribunal order allowing a deduction for the refunded subsidy amount in the assessment year 2002-03. This order effectively reinstated the Commissioner of Income Tax (Appeals) decision from 1997. Consequently, the Court found the impugned order irrelevant and left the substantial question of law unanswered, aligning the tax treatment with the Tribunal's decision. Case-Laws Income Tax Mon, 13 Feb 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=459692