Capital or revenue receipts

Jagdish Bhalia (Practicing CA) (453 Points)

29 May 2010  

Dear Freinds

Interest and Wage Employment Susidy received from Govt. is a CAPITAL Receipts or REVENUE Receipts. The above subsidy amount is based on Interest and Wages paid during the year.

My question is whether the above susidy is taxable in hands of assessee. Pls also give any judgement or case law on the above

Thanks