Subsidy Received by Nestle India as Incentive to Establish Industrial Unit is Capital receipt, Cannot be Adjusted Against Block of Assets: Delhi HC [Read Order]

By Kalyani B. Nair - On July 6, 2023 9:32 am - 2 mins read

Subsidy Received by Nestle India - Nestle India - Subsidy Received - Incentive to Establish Industrial Unit is Capital receipt - Block of Assets - Delhi Highcourt - taxscan

In a significant ruling the Delhi High Court observed that the Subsidy received by Nestle India, the assessee as incentive to establish industrial unit is Capital receipt and cannot be adjusted against block of assets. The appeal concerns the Assessment Year (AY) 2009-10 and the appellant/revenue has assailed the common order passed by the Income…

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