Dismissing the appeal of the revenue the Court held that, electricity subsidy, export incentive to cover cost of Indian market , technology upgradation fund Scheme is held to be capital receipt. (AY. 2010 -11)
PCIT v. Nitin Spinners Ltd. (2020) 116 taxmann.com 26 (Raj.)(HC): Editorial , SLP of revenue dismissed ,PCIT v. Nitin Spinners Ltd. (2021) 283 Taxman 2 (SC)
S. 4 : Charge of income-tax-Subsidy-Electricity subsidy-Export incentive to cover cost of Indian market-Technology Upgradation Fund Scheme- Held to be capital receipt. [S. 2(24)(xvii), 28(i)]