2021 (1) TMI 395

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.... Singh, CIT(DR) ORDER PER N.K. BILLAIYA, AM This appeal by the revenue is preferred against the order of the CIT(A)-4, New Delhi dated 20.6.2017 pertaining to assessment year 2013-14. 2. The solitary grievance of the revenue is that the CIT(A) erred in holding that the sales tax subsidy amounting to Rs. 61,20,12,557/- is a capital receipt. 3. During the course of the scrutiny assess....

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....AR relied upon the order of the Tribunal in earlier years. 7. We have carefully considered the orders of the authority below. We find force in the claim that the impugned issue is covered in favour of the assessee and against the revenue by the earlier order of the Tribunal in ITA No. 2130/Del/2008, 967/Del/2010 and 5323/Del/2011 wherein the Tribunal held as under :- "We have heard the....

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....at of 1979 scheme. We further note that the Tribunal in ITA No. 678 & 679/Del/2012 in the case of M/s Indo Rama Textiles Ltd. on identical facts has held that the decision of the Mumbai Tribunal, Special Bench in the case of Reliance Industries 88 ITD 273 is applicable. Accordingly, in the background of the aforesaid discussion and precedents, we hold that the Ld. CIT(A) has passed a reasonable or....