https://www.taxtmi.com/caselaws?id=59880 The Tribunal held that the subsidy received under the Transport Subsidy Scheme of 1971 was not taxable as income, as it was aimed at promoting industrial growth and economic development, not augmenting profits. Therefore, the Tribunal directed the deletion of the subsidy amount from the assessment. Additionally, the Tribunal ruled that the excise duty refund claim was not taxable in the year under appeal as the right to the amount did not accrue during that period. The Tribunal allowed the appeal partially, excluding the excise duty refund claim from the assessment for the year under appeal. en-us Fri, 04 Dec 1992 00:00:00 +0530 Sat, 01 Jan 2011 16:14:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=59880 The Tribunal held that the subsidy received under the Transport Subsidy Scheme of 1971 was not taxable as income, as it was aimed at promoting industrial growth and economic development, not augmenting profits. Therefore, the Tribunal directed the deletion of the subsidy amount from the assessment. Additionally, the Tribunal ruled that the excise duty refund claim was not taxable in the year under appeal as the right to the amount did not accrue during that period. The Tribunal allowed the appeal partially, excluding the excise duty refund claim from the assessment for the year under appeal. Case-Laws Income Tax Fri, 04 Dec 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=59880