Subsidy given by State Governments on Account of Development of Multiplexes in State is a Capital Receipt: ITAT grants relief to PVR [Read Order]

state government - Multiplexes - capital reciept - Subsidy - itat - relief - pvr - taxscan

The Delhi bench of the Income Tax Appellate Tribunal (ITAT) granted relief to PVR and held that the subsidy given by the state government on account of the development of multiplexes in the state is a capital receipt. The counsel for the assessee stated that the issue is no more resintegra as it has been…

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