{"id":2630,"date":"2018-10-22T06:17:57","date_gmt":"2018-10-22T06:17:57","guid":{"rendered":"http:\/\/itatonline.org\/digest\/cit-v-gloster-jute-mills-ltd-2018-257-taxman-512-cal-hc\/"},"modified":"2019-09-26T10:42:09","modified_gmt":"2019-09-26T10:42:09","slug":"cit-v-gloster-jute-mills-ltd-2018-257-taxman-512-cal-hc","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/cit-v-gloster-jute-mills-ltd-2018-257-taxman-512-cal-hc\/","title":{"rendered":"CIT v. Gloster Jute Mills Ltd. (2018) 257 Taxman 512\/( 2019) 416 ITR 458  (Cal.)(HC)"},"content":{"rendered":"<p>Dismissing the appeal of the revenue the Court held that ;\u00a0the subsidy was clearly for purpose of upgrading machinery and plant and for acquiring capital assets and not for purpose of day-to-day business operations of assessee, held that quantum of subsidy received by assessee was a capital receipt.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 4 : Charge of income-tax \u2013Capital or revenue- Subsidy- Technology upgradation of existing units as well as to set up new units with latest technology to enhance their viability and competitiveness in domestic and international markets- Capital receipts [ S.28(i)]<\/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-2630","post","type-post","status-publish","format-standard","hentry","category-digest"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-Gq","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/2630","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=2630"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/2630\/revisions"}],"predecessor-version":[{"id":7458,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/2630\/revisions\/7458"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=2630"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=2630"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=2630"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}