TUFS Scheme interest being capital receipt should be excluded while working out book profits u/s 115JB

BSL Ltd Vs DCIT (ITAT Delhi) ITAT Delhi held that interest receipt under Technology Upgradation Fund Scheme (TUFS Scheme) being capital in nature needs to be excluded while working out the book profits under section 115JB of the Income Tax Act. Facts- The assessee claimed the exclusion of interest subsidy of Rs.3,03,80,678/- from the profits while computing the book profits u/s 115JB of the Act as on additional ground. Notably, interest subsidy was received under Technology Upgradation Fund Scheme (TUFS) during the year under consideration. It was submitted that the subsidy received was reduce...