Assessee is engaged in business of manufacturing paints and enamels. Electricity grants received by assessee from State Government under Industrial Policy, 2005 for setting up a project for manufacturing of paints is capital in nature. (AY. 2014-15)c
Asian Paints Ltd. v. ACIT (2024) 205 ITD 680 (Mum.)(Trib.)
S. 4 : Charge of income-tax-Grant-Electricity grants received by assessee from State Government under Industrial Policy, 2005 for setting up a project for manufacturing of paints is capital in nature.
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