Dismissing the appeal of the revenue the Court held that subsidy received from State Government is capital receipt . ( AY. 2000-01 , 2003 -04)
CIT v. Keventer Agro Ltd. (2019) 416 ITR 482 (Cal.) (HC)
S. 4 : Charge of income-tax–Subsidy from State Government– Capital receipt. [S. 2(24)]