Held that subsidy granted by the Government of Maharashtra under the Package Scheme of incentives 2007 was to encourage industrial growth in less developed areas of the State and the quantification of the same is linked with the amount of investment made in setting up the eligible unit, therefore the subsidy is capital receipt and not chargeable to tax. (AY. 2014-15)
Hyundai Construction Equipment India (P) Ltd. v. ACIT (2021) 208 DTR 449 /(2022) 215 TTJ 383 (Pune)(Trib.)
S. 4 : Charge of income-tax-Capital or revenue-Subsidy received under incentive scheme of Government Scheme of Maharashtra-Capital receipt. [S. 28(1)]