Court :
Kolkata High Court
Brief :
Since interest subsidies and power subsidies are provided by the government to the entities establishing units in specified areas are of Capital nature. The subsidies are given to develop the specified areas and generate employment. Since these subsidies are of capital nature and hence cannot be included to compute Book Profit under provisions of Section 115JB of the Income tax Act, 1961.
Citation :
ITA/18/2021-IA No.GA/2/2018 (Old No.GA/515/2018)
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