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Is the subsidy given to cotton business exempted ?

This query is : Resolved 
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(Querist)
15 June 2016 NABARD has given Subsidy to Cotton Ginning, Pressing and Bailing units by Notification dated 28-09-2012. Link to notification is----- https://www.nabard.org/pdf/letter_GoI_on_cotton_ginning_pressing_bailing_under_AMIGS.PDF. Is the subsidy exempted from Income-tax ? Please respond.

Thank you.
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Amol S Joglekar

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Amol S Joglekar (Expert)
15 June 2016 capital subsidy is exempt, since it is capital receipt
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Amol S Joglekar

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Amol S Joglekar (Expert)
15 June 2016 capital subsidy is exempt, since it is capital receipt
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