Tribunal held that any subsidy given to assessee post accomplishment of project or expansion there, without any obligation to utilize subsidy only for repayment of term loans undertaken by assessee for setting up new units/expansion of existing business, or to liquidate cost incurred in creating capital asset or its expansion, was only in nature of revenue receipt and was liable to be brought to tax. (AY. 2008 -09)
Maruti Suzuki India Ltd. v. ACIT (2018) 191 TTJ 148 (Delhi)(Trib.)
S. 4 : Charge of income-tax–Sales tax subsidy-subsidy given to assesse post accomplishment of project or expansion there, without any obligation to utilize subsidy only for repayment of term loans undertaken by assessee for setting up new units/expansion of existing business, or to liquidate cost incurred in creating capital asset or its expansion, was only in nature of revenue receipt and was liable to be brought to tax.