ACIT v. Inox Leisure Ltd. [2023] 105 ITR 3 (SN) (Ahd) (Trib)

S. 4 : Charge of income-tax-Capital or revenue receipt-Entertainment tax subsidy is capital receipt not exigible to tax. [S. 28(i)]

Where the object of the entertainment tax subsidy scheme of the State Government was to encourage development of multiple theatre complexes, such incentive is capital in nature and not a revenue receipt. Hence, subsidy amount received by the assessee on account of entertainment tax exemption is a capital receipt and not liable to be taxed. (AY 2012-13)