Nature of receipt - subsidy received in the form of octroi ...

Octroi refund subsidy is revenue receipt u/s 28(iv), not included in total income due to Section 2(24)(xviii) amendment.

May 24, 2022

Case Laws Income Tax AT

Nature of receipt - subsidy received in the form of octroi refund as revenue receipts invoking the provisions of section 28(iv) - Revenue or capital receipt - Since the amended provision of section 2(24)(xviii) is not applicable to the year under consideration, the sequitur is that the subsidy received by the assessee would not form part of its total income - AT

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Nature of receipt - subsidy received in the form of octroi ...

Octroi refund subsidy is revenue receipt u/s 28(iv), not included in total income due to Section 2(24)(xviii) amendment.

May 24, 2022

Case Laws Income Tax AT

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