Wednesday, September 25, 2019

Interest & Power subsidy granted for setting up new industry in backward areas was non-taxable capital receipt

INCOME TAX: Interest subsidy and power subsidy granted to assessee by State Government with sole intention of setting up new industry and attracting private investment in State of West Bengal in specified areas which is industrially backward was in nature of non-taxable capital receipt

from www.taxmann.com Latest Case Laws https://ift.tt/2n6l3Gk
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