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TMI Blog2018 (8) TMI 2132X X X X Extracts X X X X X X X X Extracts X X X X ..... se it was given to the assessee after commencement of production to enable it to run the business more profitably and it is an operation subsidy - HELD THAT:- We find identical issue had come up before the Tribunal in assessee s own case [ 2015 (11) TMI 1865 - ITAT RAIPUR] as upheld the order of the ld. CIT(A) deleting the addition. While doing so, the Tribunal has followed the decision of Rel ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... case, the Ld. CIT(A) was justified in deleting the addition of Rs. 3,41,28,862/- made by the A.O. on account of the subsidy received as revenue receipt. 3. Facts of the case, in brief, are that the assessee is a company engaged in the business of manufacturing of Sponge Iron, Billets, Blooms, Ferro Alloys and Generation of Power. It filed its return of income on 05.10.2010 declaring Nil income ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nt equivalent to the amount of Commercial Tax/Central Sales Tax paid in the State in five year period. The District Industry Centre vide letter dated 20.03.2009 has sanctioned infrastructure development/capital investment subsidy to the extent of Rs. 12,81,44,310/- subject to maximum amount equivalent to the amount of Commercial Tax/ Sales Tax paid in the State in five year period. During the year ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 6. In appeal, the ld. CIT(A), following the order of his predecessor for assessment year 2009-10 which has been confirmed by the Tribunal, deleted the addition made by the Assessing Officer. 7. Aggrieved with such order of the ld. CIT(A), the Revenue is in appeal before the Tribunal. 8. After hearing both the sides, we find identical issue had come up before the Tribunal in assessee s own ca ..... X X X X Extracts X X X X X X X X Extracts X X X X
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