Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights June 2013 Year 2013 This

Revenue or capital - entertainment duty subsidy - The fact that ...


Subsidy for Multiplex Construction Not Revenue: Non-use for Loan Repayment Doesn't Define Its Nature.

June 4, 2013

Case Laws     Income Tax     HC

Revenue or capital - entertainment duty subsidy - The fact that the subsidy was not meant for repaying the loan taken for construction of multiplexes cannot be a ground to hold that subsidy receipt was on revenue account - HC

View Source

 


 

You may also like:

  1. Nature of receipt – Entertainment tax – Revenue or capital receipt - the subsidy in respect of Multiplex located at Jaipur to be capital in nature. - AT

  2. Characterization of income - cash receipt due to waiver of loan by the state government - whether in the nature of subsidy - to be treated as benefit / perquisite u/s...

  3. Nature of subsidy received - Capital or revenue receipt - amount given as subsidy to meet any revenue expenditure can safely be termed as revenue receipt - HC

  4. Nature of receipt under the subsidy scheme - Multiplex Theatre Complexes - exemption of entertainment duty - the receipt is in the nature of capital receive - not taxable - SC

  5. Interest subsidy received under the Technology Upgradation Fund Scheme – utilized for repayment of loans taken by the assessee to set up the new unit - held as capital...

  6. Deduction u/s 80IB on Central Excise Duty refund - receipt of the subsidy was capital in nature as the assessee was obliged to utilize the subsidy only for repayment of...

  7. Nature of incentive subsidy - Capital or revenue receipt - subsidy on the purchase of generator set - the same is capital subsidy and should go on to reduce the cost of asset - AT

  8. Taxability of subsidy - revenue of capital - subsidy to establish the industrial unit in backward regions of the Maharashtra State is in nature of capital receipt -...

  9. Nature of receipt - Entertainment tax exemption in respect of Multiplexes - whether capital or revenue receipts? - where object of respective subsidy schemes of State...

  10. Deemed dividend u/s 2(22))e) - repayment of loan or advance by the Company

  11. Charitable purpose - Application of loan repayment allowability - The repayment of loan is not an allowable deduction against profit and gains of the business even under...

  12. External Commercial Borrowings (ECB) – Repayment of Rupee loans - Circular

  13. Nature of payment (expenses) made to bank for converting rupee loan into foreign currency loan - The assessee was benefited as the interest rate was reduced - held as...

  14. Deduction u/s 80IB and 80IC - Transport subsidy - Power subsidy - Interest subsidy - Insurance subsidy - are operational in nature - related to the production -...

  15. Subsidy pursuant to a scheme formulated and implemented by the Government for promotion of construction of Cinema Halls and support the film industry - revenue or...

 

Quick Updates:Latest Updates