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 September 2014 Year 2014 This

Collection of Entertainment tax is a trading receipt or not - ...


Subsidy for Multiplexes Falls Under Capital Account, Not Trading Receipt, Regardless of Funding Source.

September 8, 2014

Case Laws     Income Tax     AT

Collection of Entertainment tax is a trading receipt or not - irrespective of the fact that the multiplexes have been constructed out of own funds or borrowed funds the receipt of subsidy would be on capital account - AT

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. 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

  3. The High Court held that the capital grant subsidy or viability gap funding provided by the National Highways Authority of India (NHAI) to its Concessionaires for...

  4. Interest income earned from funds received from Government for setting up a company is a capital receipt, not revenue receipt, as the funds and income must be utilized...

  5. The development fund received from students, apart from tuition fees, is treated as a capital receipt or corpus donation, not a revenue receipt. The fund is utilized for...

  6. Deduction u/s 80 IB - Central Excise Duty refund & interest subsidy - held as Capital receipt - AT

  7. Capital or revenue receipt - incentives - excise duty refund, interest subsidy and insurance subsidy held as capital receipts .... – HC

  8. VAT subsidy - Characterization of receipts - taxability of receipts - The refund now VAT as given to the industrial undertakings only for the purpose of fulfilling the...

  9. 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...

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

  11. Nature of receipt - subsidy on account of power consumption - the real purpose of the incentive in this case has to be seen as a capital subsidy and has to be regarded,...

  12. 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

  13. Nature of receipt - additions towards receipt of Corpus Fund - additions on account of Corpus contribution received by the appellant being a Trust - held as capital...

  14. 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...

  15. 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 -...

 

Quick Updates:Latest Updates