Taxability of subsidy - Revenue receipt or capital receipt - "10 per cent Central Outright Grant of Subsidy Scheme, 1971"

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ion to consider whether the amount of subsidy received under 10 per cent Central Outright Grant of Subsidy Scheme for industrial units to be set up in certain selected backward districts/areas would constitute revenue receipt or capital receipt in the hands of the recipient for the purpose of income-tax. 2. I am directed to say that the payment of subsidy under the scheme is primarily given for....