https://www.taxtmi.com/caselaws?id=780683 ITAT MUMBAI - AT held that grants received from the State for road projects are capital in nature as promoter's contributions under AS-12 where the assessee, a wholly government-owned undertaking executing BOT projects, acts as contractor and ultimately hands projects back to the State. Consequently such grants, including accrued but not received amounts, are not assessable as income and additions on that basis were deleted. Further, additions treating toll receipts grossly were reversed because the AO ignored estimated maintenance/improvement costs; identical additions for two toll projects were likewise deleted and AO directed to recompute. en-us Mon, 27 Oct 2025 00:00:00 +0530 Tue, 04 Nov 2025 08:03:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=780683 ITAT MUMBAI - AT held that grants received from the State for road projects are capital in nature as promoter's contributions under AS-12 where the assessee, a wholly government-owned undertaking executing BOT projects, acts as contractor and ultimately hands projects back to the State. Consequently such grants, including accrued but not received amounts, are not assessable as income and additions on that basis were deleted. Further, additions treating toll receipts grossly were reversed because the AO ignored estimated maintenance/improvement costs; identical additions for two toll projects were likewise deleted and AO directed to recompute. Case-Laws Income Tax Mon, 27 Oct 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=780683