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interest subsidy is my taxble income?

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(Querist)
11 September 2010 i have received interest subsidy from gujarat state governement against my term loan for machinery so whare treat of this ammount.

interest subsidy is my taxble income?
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
11 September 2010 Subsidy received after the commencement of production is a revenue receipt liable to income tax as per Supreme court decision in Sahney Steel's case.
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