{"id":2054,"date":"2018-08-23T09:22:33","date_gmt":"2018-08-23T09:22:33","guid":{"rendered":"http:\/\/itatonline.org\/digest\/acit-v-pasadensa-foods-ltd-2018-163-dtr-243-delhi-trib\/"},"modified":"2018-08-23T09:22:33","modified_gmt":"2018-08-23T09:22:33","slug":"acit-v-pasadensa-foods-ltd-2018-163-dtr-243-delhi-trib","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/acit-v-pasadensa-foods-ltd-2018-163-dtr-243-delhi-trib\/","title":{"rendered":"ACIT v. Pasadensa Foods Ltd. (2018) 163 DTR 243 (Delhi)( Trib.)"},"content":{"rendered":"<p>On Revenue\u2019s appeal, relying on the Supreme Court\u2019s decision in the case of Sahney Steel and Press Works v. CIT (1997) 228 ITR 253 (SC) and CIT v. Ponni Sugar &amp; Chemicals Ltd. (2008) 306 ITR 392 (SC), the Tribunal held that \u2018purpose test\u2019 should be applied for determining the character of the subsidy. Since the subsidy in the present case was received by the assessee for setting up of an industry in the backward area of West Bengal, it was held that the CIT(A) rightly treated the same as capital in nature. (ITA No. 3002\/Del\/2011). (AY. 2005-06)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 4:Charge of income- tax \u2013 Subsidy received from Government for setting up of an industry in the backward area was to be treated as a capital receipt.<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-2054","post","type-post","status-publish","format-standard","hentry","category-digest"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-x8","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/2054","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=2054"}],"version-history":[{"count":0,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/2054\/revisions"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=2054"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=2054"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=2054"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}