https://www.taxtmi.com/caselaws?id=770974 Delhi HC held that Entertainment Tax Subsidy received by assessee from state governments for multiplex operations constituted capital receipts rather than revenue receipts. The assessee collected entertainment tax but adjusted it against the subsidy instead of depositing with authorities. Court ruled the subsidy scheme aimed to encourage development of capital-intensive multiplex theatre complexes. Decision favored assessee based on SC precedent in Chaphalkar Brothers case, establishing that such subsidies for capital asset development are capital in nature. en-us Tue, 29 Apr 2025 00:00:00 +0530 Mon, 19 May 2025 08:37:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=770974 Delhi HC held that Entertainment Tax Subsidy received by assessee from state governments for multiplex operations constituted capital receipts rather than revenue receipts. The assessee collected entertainment tax but adjusted it against the subsidy instead of depositing with authorities. Court ruled the subsidy scheme aimed to encourage development of capital-intensive multiplex theatre complexes. Decision favored assessee based on SC precedent in Chaphalkar Brothers case, establishing that such subsidies for capital asset development are capital in nature. Case-Laws Income Tax Tue, 29 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=770974