https://www.taxtmi.com/caselaws?id=796409 Financial assistance granted under a concession arrangement for construction and development of a water infrastructure project is capital in character when its purpose is to set up or complete the project, rather than to support operational revenue. Such assistance is not taxable as revenue. Net project-development expenditure exceeding the assistance may be treated as deferred revenue expenditure and amortised over the concession period where the accounting treatment is consistent with the applicable circular. This permits deduction of the amortised expenditure and rejects a contrary adjustment. en-us Thu, 30 Jul 2026 00:00:00 +0530 Wed, 05 Aug 2026 08:48:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=796409 Financial assistance granted under a concession arrangement for construction and development of a water infrastructure project is capital in character when its purpose is to set up or complete the project, rather than to support operational revenue. Such assistance is not taxable as revenue. Net project-development expenditure exceeding the assistance may be treated as deferred revenue expenditure and amortised over the concession period where the accounting treatment is consistent with the applicable circular. This permits deduction of the amortised expenditure and rejects a contrary adjustment. Case-Laws Income Tax Thu, 30 Jul 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=796409