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Apex Court held ‘Purpose test’ is crucial factor to determine whether subsidy is capital or revenue in nature
Case Law Details
- Case Name
- CIT Vs M/s. Chaphalkar Brothers Pune (Supreme Court of India)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- Supreme Court of India
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CIT vs. Chaphalkar Brothers Pune (Supreme Court)
Brief Facts of the Case
The Assessee, Chaphalkar Brothers Pune, one of the appellant from batch of appeals from Maharashtra and West Bengal, was engaged in the business of Multiplex Theatre in Pune, Maharashtra.
The Govt. of Maharashtra, by way of ordinance before 4th December, 2001, introduced subsidy scheme in the form of exemption of entertainment duty in Multiplex Theatre Complexes newly set up, for a period of three years, and thereafter payment of entertainment duty @25% for the subsequent two years.
The object and reason...
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