Whether the interest subsidy and excise refund would be treated as capital receipt or revenue receipt for the 115JB
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)
You have reached your daily limit of 2 Free Judgements
Subscribe to CCI PRO for unlimited access
Why Upgrade to CCI PRO?
- No Ads
- WhatsApp Community
- Daily E-Newsletter
- Unlimited Judgements Access
- Profile Visitors
- Link Social Profiles
- Featured Job Posts
- Pro Badge
- Expert GST Guidance
- Unlimited Forum Replies
- Download Content in PDF
Already a PRO member? Login here for an ad-free experience.
FCS Deepak Pratap Singh
Published in Income Tax
Views : 295
Comments
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
