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’.

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