Nature/Character of receipt - subsidy receipt - revenue or ...

Case Laws Income Tax

July 31, 2023

Nature/Character of receipt - subsidy receipt - revenue or capital receipt - Applicability of purpose test - section 2(24)(xviii) would be attracted, in principle, but would not apply as the assessment year under consideration is prior to the insertion of the proviso. It is, therefore, held that the authorities below were not justified in treating the amount of subsidy as a ‘Revenue’ receipt chargeable to tax. - AT

View Source

← Previous Next →

Nature/Character of receipt - subsidy receipt - revenue or ...

Case Laws Income Tax

July 31, 2023

You may also like:

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

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

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 -...

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

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

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

Nature of subsidy received under the Technology Upgradation Fund Scheme - revenue or capital receipt - The subsidy was clearly for the purpose of upgrading the machinery...

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,...

Treatment of sales tax subsidy - CIT(A) treated it as revenue receipts - , it would be in the nature of capital receipt not liable to tax - AT

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...

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...

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

Revenue or capital receipt - sales tax subsidy/incentive under the Package Scheme of Incentives Scheme, 1993 - The High Court held that the sales tax subsidy/incentive...

Sales tax subsidy treated as capital receipt - nature of receipt - Whether the subsidy amount can be adjusted in the cost of depreciable assets? - AT

Revision u/s 263 by CIT - nature of compensation received for cancellation of the plot - the character of payment received as compensation by the transferee bears the...

Quick Updates: