Dismissing the appeal of the revenue the Court held that the subsidy received by the respondent under the head Technology Upgradation Fund, Focus Market Scheme, Electricity Duty Subsidy is held to be a capital receipts. Order of Tribunal is affirmed. (AY. 2013-14)
PCIT v.Nitin Spinners Ltd. (2020) 185 DTR 110 / 312 CTR 540/116 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–Capital or revenue-Technology Upgradation Fund-Focus Market Scheme-Electricity Duty Subsidy-Held to be capital receipts. [S. 28(i)]