Similar Treatment to Be Given in Subsequent AY in Case of Existence of Identical Facts in Previous Settled AY

M/s. Chhattisgarh Mineral Development Corporation Limited Vs ACIT (ITAT Raipur) FACTS – Assessee is a corporation of the Chhattisgarh Government and has received subsidies for opening a mine. Assessee treated the said subsidy as ‘capital receipt’, however, department contended it to be ‘revenue receipt’. HELD – From AY 2006-07 onwards, the assessee received the subsidies/ financial grant and all these years the assessment was completed u/s 143(3) and it has been accepted as ‘capital receipt’. Only in respect of AY 2014-15 on the similar facts and circumstances and on the same s...