2013 (6) TMI 42

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....K.Suresh Kumar Standing Counsel for Income Tax JUDGMENT (Judgment of the Court was delivered by CHITRA VENKATARAMAN, J.) The assessee is on appeal as against the order of the Tribunal relating to the assessment year 1996-97, raising the following substantial question of law:- "Whether on the facts and in the circumstances of the case, the Tribunal is right in holding that the tariff su....

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....als), who concurred with the view of the Assessing Officer. Aggrieved by the same, the assessee went on further appeal before the Income Tax Appellate Tribunal, which once again confirmed the orders of the authorities below by referring to the decision of the Apex Court reported in 237 ITR 579 (SC) (Commissioner of Income Tax Vs. Sterling Foods) and held that the subsidy received from Electrici....

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....issioner of Income Tax) to emphasise on the fact that the payments were made after setting up of the industry and commencement of the production, so as to enable the industry to run profitably. In any event, going by the provisions under Section 80IA with reference to its link to the business of the assessee, the Tribunal should have considered the relief. 4. We agree with the submissions of th....