Subsidy received by Assessee under Package Scheme of Incentives is a Capital Receipt and Not Chargeable to Tax: ITAT [Read Order]

Assessee - Package Scheme - Incentives - Capital Receipt - Tax - ITAT - taxscan

The Pune Bench of Income Tax Appellate Tribunal has held that subsidy received by assessee under Package Scheme of Incentives is a capital receipt and not chargeable to tax. The assessee, Haldex India Pvt. Ltd., is engaged in the business of manufacturing and sale of connecting rods assembling and other engineering goods. During the course…

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