Case Law Details
Case Name : Siemens Public Communication Network P. Ltd. vs. CIT (Supreme Court)
Related Assessment Year :
Courts :
Supreme Court of India
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CA Saurabh Chokhra
Brief of the case:
The Hon’ble Supreme Court in the above cited case held that amount received as subvention/grant from parent company by a loss making subsidiary cannot be considered as revenue receipt in the hands of subsidiary company as grant was made by parent company to protect its investment made in subsidiary.
Therefore, such grant is a capital receipt which is not taxable.
Facts of the case:
The assessee company received subvention (grant) from its parent company (Germany based) to support assessee company whose business situation gone worse.AO added the...
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Author Bio
Facts of the case:
In the second paragraph of Facts of the case –
“CIT (A) and ITAT reversed the finding of tribunal”
in the above part of the sentence the word “tribunal” is to be replaced with the word “Assessing Officer”