Entertainment tax subsidy to meet cost of Multiplex Theater building and Machine is Capital Receipt

DCIT Vs. Shipra Hotels Ltd. (ITAT Delhi)

In the case of the assessee, the Uttar Pradesh State Government issued a letter to the assessee for grant of entertainment tax subsidy and based on the relevant Scheme of Uttar Pradesh Government, it reveals that subsidy was granted to multiplexes under Uttar Pradesh Government’s Incentive Scheme for “Promotion for construction of Multiplexes” and overall quantum of subsidy is limited to the cost of construction, (excluding cost on land). Entertainment subsidy received by the

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