Octroi refund subsidy is revenue receipt u/s 28(iv), not included in total income due to Section 2(24)(xviii) amendment.

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Full Text of the Document

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....Nature of receipt - subsidy received in the form of octroi refund as revenue receipts invoking the provisions of section 28(iv) - Revenue or capital receipt - Since the amended provision of section 2(24)(xviii) is not applicable to the year under consideration, the sequitur is that the subsidy received by the assessee would not form part of its total income - AT....