Amount of Subsidy received towards Investment made in expansion of Industrial unit shall be Characterized as Capital receipt: ITAT [Read Order]

Amount of Subsidy received - Investment made in expansion of Industrial unit - Amount of Subsidy -expansion of Industrial unit - Capital receipt - ITAT - taxscan

The Pune bench of the Income Tax Appellate Tribunal (ITAT) held that the amount of subsidy received towards investment made in the expansion of industrial units shall be characterized as capital receipt. The assessee is a private limited company engaged in the business of manufacturing Press parts, Engineering goods, Fabrication, and Trading thereof. A return…

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