De novo adjudication granted in matter of taxability of industrial promotion subsidy

Mahindra & Mahindra Limited Vs ACIT (ITAT Mumbai) ITAT Mumbai remitted matter of taxability of industrial promotion subsidy back to CIT(A) for de novo meritorious adjudication as details and documents demanded thereon were not furnished by the assessee. Facts- The present appeal has been preferred by the assessee. Assessee has contested on the addition made towards disallowance of claim in respect of industrial promotional subsidy received by the assessee from the State Government of Maharashtra under the package scheme of incentives, 2007, to be treated as capital receipt, not chargeable...