https://www.taxtmi.com/caselaws?id=59838 The Appellate Tribunal held that the amount received by the assessee as export subsidy and cash assistance for exporting plant and machinery was a capital receipt related to investment in equity shares, not business income. The Tribunal considered the export as an investment activity in compliance with government approvals, concluding that the received amount was not taxable as revenue for the assessment year 1983-84. Consequently, the appeal by the assessee was allowed, overturning the lower authorities' decision to treat the amount as business income. en-us Sat, 12 Feb 1983 00:00:00 +0530 Sat, 01 Jan 2011 14:02:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=59838 The Appellate Tribunal held that the amount received by the assessee as export subsidy and cash assistance for exporting plant and machinery was a capital receipt related to investment in equity shares, not business income. The Tribunal considered the export as an investment activity in compliance with government approvals, concluding that the received amount was not taxable as revenue for the assessment year 1983-84. Consequently, the appeal by the assessee was allowed, overturning the lower authorities' decision to treat the amount as business income. Case-Laws Income Tax Sat, 12 Feb 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=59838