Subsidy for wind power project being capital receipts neither taxable u/s 41(1) / 50 nor to be deducted in actual cost u/s 43

Brief of the Case ITAT Mumbai held In the case of M/s. UniDeritend Limited vs. ACIT that the subsidy being provided to the assessee to encourage the setting up of wind mill to promote generation of energy through non conventional sources, thus, is to be treated as capital receipt. With regard to applicability of the section 41(1) is concerned, it relates to the benefit derived by an assessee in respect of loss, expenditure or trading liability and not in respect of capital receipts. So far as the Explanation 10 to Section 43(1) is concerned, as per the policy of the government, the subsidy is ...