2008 (1) TMI 197

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..... treated as capital receipt, is not acceptable – in case of Kalpana Palace v. CIT [2004 -TMI - 10402 - ALLAHABAD High Court], money received by the appellant will be treated to be capital receipt and not revenue receipt - 132 (Defective) of 2002 - - - Dated:- 22-1-2008 - SUSHIL HARKAULI and SUDHIR AGARWAL JJ. JUDGMENT The question of law on which this appeal has been admitted is as foll .....

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..... e case of the Kalpana Palace [2005] 275 ITR 365 (All). 3. Although, learned standing counsel for the Income-tax Department has submitted that because the subsidy is post-construction, therefore, it should be treated not as capital receipt but as revenue receipt but we find that all these aspects have already been taken into consideration by a Division Bench of this court in the case of K .....

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