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Similar Treatment to Be Given in Subsequent AY in Case of Existence of Identical Facts in Previous Settled AY
Case Law Details
- Case Name
- M/s. Chhattisgarh Mineral Development Corporation Limited Vs ACIT (ITAT Raipur)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2014-15
- Courts
- All ITAT, ITAT Raipur
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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...
