Interest subsidy under TUFS treated as capital receipt, for overall growth and generation of employment: ITAT [Read Order]

Interest - subsidy - TUFS - capital - receipt - growth - generation - employment - ITAT - TAXSCAN

The Delhi bench of Income Tax Appellate Tribunal (ITAT) observed that the purpose of granting subsidy under TUFS (Technology Up-gradation Fund Scheme) by the Ministry of Textiles, Government of India was for overall growth and generation of employment and held that interest reimbursement received by the assessee is a capital receipt. The assessee M/s Shahi…

Your free access to Taxscan has Expired

To read the article, get a premium account.

Taxscan Premium

Why should you subscribe?
  • Enjoy our website without interruptions from advertisements
  • Receive Daily newsletters
  • Receive realtime Telegram/Whatsapp news updates
  • Download original Judgements / Order / Notifications / Circulars, etc
  • Enjoy exclusive entry fees to Simplified series. (Webinars, Seminars, masterclasses, etc.)
  ₹1599 + GST for 1 year

Subscribe Now