Held, allowing the assessee’s appeal to the extent recalled, (i) that once the object of the subsidy is to industrialize a State, it is a capital receipt. Accordingly, the sales tax incentive money retained by the assessee in accordance with section 41 of the West Bengal Sales tax Act, 1944 read with the West Bengal Incentive Scheme, 1999, was a capital receipt not chargeable to tax under the Income-tax Act, 1961. (AY.2003-04)