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TMI Blog2016 (12) TMI 507X X X X Extracts X X X X X X X X Extracts X X X X ..... ant-in-aid received by an Assessee is utilized for acquisition of an asset, the same must be understood to be in the nature of a revenue receipt was held by the High Court to be a principle of law applicable to all situations. The aforesaid view tends to overlook the fact that in both Ponni Sugars (2008 (9) TMI 14 - SUPREME COURT ) and Sahney Steel (1997 (9) TMI 3 - SUPREME Court) the subsidies re ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ur of assessee. - Special Leave To Appeal (C) No (S). 6946/2014, SLP(C) No. 8353/2014, SLP(C) No. 8594/2014, Civil Appeal No. 11934, 11936, 11937 of 2016 - - - Dated:- 7-12-2016 - Ranjan Gogoi And N. V. Ramana, JJ. For the Petitioner : Mr. Tarun Gulati, Adv. Mr. Rony O John, Adv. Mr. Neil Hildreth, Adv. Mr. Shashi Mathews, Adv. Mr. Kishore Kunal, Adv. Mr. anupam Mishra, Adv. Ms. Rachana Y ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he view taken by the Assessing Officer. Aggrieved the Assessee has filed the present appeals. 3. The question of law that was presented before the High Court, namely, whether subvention was capital or revenue receipt, was sought to be answered by the High Court by making a reference to two decisions of this Court in Sahney Steel Press Works Ltd., Hyderabad versus Commissioner of Income Tax, A ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rstood to be payments made in order to protect the capital investment of the Assessee Company. If that is so, we will have no hesitation to hold that the payments made to the Assessee Company by the parent Company for Assessment Years in question cannot be held to be revenue receipts. We also find such a view in a recent pronouncement in Commissioner of Income Tax versus Handicrafts and Handlooms ..... X X X X Extracts X X X X X X X X Extracts X X X X
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