Subsidy - Indian Laws - General

Subsidy In Black s Law Dictionary (Sixth edition) , subsidy is defined as under : A grant of money made by Government in aid of the promoters of any enterprise, work, or improvement in which the Government desires to participate, or which is considered a proper subject for Government aid, because such purpose is likely to be of benefit to the public. In the Concise Oxford Dictionary , subsidy has been defined as money contributed by State to keep down price of commodities etc., or to expenses of commercial undertaking, charitable institution, etc., held to be of public utility . According to Collins Cobuild English Language Dictionary , A subsidy is money that is paid by a Government or other authority in order to help a company financially or to make something cheaper for the public. In New Webster s Dictionary , subsidy has been defined as a sum of money granted by a Government to an organisation, institution, or industry, especially one benefiting the health and welfare of the country, as a charity, hospital, or public service ; a gift of money; grant . CIT VERSUS RAVINDRA TUBES LIMITED - 1994 (2) TMI 54 - DELHI HIGH COURT