Held that, grant received for specific purpose i.e., for procuring a capital asset, is in nature of a capital receipt, not subject to tax, and this receipt being in cash could not have been taxed u/s. 28(iv). (AY. 2009-10)
Pricewaterhouse Coopers (P.) Ltd. v. ACIT (2021) 189 ITD 329 (Kol.)(Trib.)
S. 28 (iv) : Business income-Grant received for specific purpose i.e., for procuring a capital asset, this receipt being in cash could not have been taxed u/s. 28(iv) [S.4]