Claim of Interest Subsidy from State Govt is Capital Receipt: ITAT grants relief to Birla Corporation [Read Order]

The Income Tax Appellate Tribunal (ITAT), Kolkata Bench granted relief to Birla Corporation Limited and held that Claim of interest subsidy from State Government is capital receipt. The Department’s appeal relates to the assessee’s, Birla Corporation Limited claim that interest subsidy, since renamed “Capital Investment Subsidy”, of Rupees three crores received under the amended Rajasthan…