Case Law Details
Case Name : M/s. UniDeritend Limited Vs ACIT (ITAT Mumbai)
Related Assessment Year : 2008-09
Courts :
All ITAT ITAT Mumbai
Become a Premium member to Download.
If you are already a Premium member, Login here to access.
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 ...
This is premium content. Please become a Premium member. If you are already a member, login here to access the full content.
Kindly Refer to
Privacy Policy &
Complete Terms of Use and Disclaimer.
contention of the assesse is related to another discussion. Kindly check.