https://www.taxtmi.com/caselaws?id=778711 HC held that state incentives/subsidies for development of new multiplex complexes are capital receipts, aligning with precedent in favour of the assessee. The Court rejected treating such grants as revenue, finding they relate to capital-intensive development. On disallowance under section 14A and Rule 8D, HC held Rule 8D operates prospectively and cannot be applied to assessment years prior to AY 2008-09. en-us Mon, 01 Sep 2025 00:00:00 +0530 Sat, 20 Sep 2025 08:38:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=778711 HC held that state incentives/subsidies for development of new multiplex complexes are capital receipts, aligning with precedent in favour of the assessee. The Court rejected treating such grants as revenue, finding they relate to capital-intensive development. On disallowance under section 14A and Rule 8D, HC held Rule 8D operates prospectively and cannot be applied to assessment years prior to AY 2008-09. Case-Laws Income Tax Mon, 01 Sep 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=778711