Capital subsidy treatment

It should be treated as income. Reason 

1. Partial amount is recived after 5 year of actual expenditure.

2. No amount of subsidy is received at begining of Venture.

hence i think at the time of expenditure u have made Capax. hence now u should treat as inocme and accordingly charged at P&L a/c but Dislocure should be given in Notes to Account why income of current year is raised in spite of normal trading profit.