2013 (6) TMI 73

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....e State Government for construction of multiplexes is in the nature of revenue receipt or capital receipt is the question raised in these appeals. According to the Revenue, in the light of the judgment of the apex court in the case of Sahney Steel and Press Works Ltd. v. CIT reported in [1997] 228 ITR 253 (SC), the entertainment duty subsidy received by the assessee must be held to be revenue r....

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....se test. The point of time at which the subsidy is paid is not relevant. The source is immaterial. The form of subsidy is immaterial. The main eligibility condition in the scheme with which we are concerned in this case is that the incentive must be utilized for repayment of loans taken by the assessee to set up new units or for substantial expansion of existing units. On this aspect there is no d....

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....ement in the field of information technology, the average occupancy in cinema theatre has fallen considerably and hardly any new theatres have been started in the recent past. Public at large these days prefer to see movies at home. Keeping in view this scenario, a concept of complete family entertainment centre, more popularly known as 'multiplex theatre complex' has emerged. These multiplex thea....