Claim of Interest Subsidy from State Govt is Capital Receipt: ITAT grants relief to Birla Corporation [Read Order]

By Kalyani B. Nair - On December 15, 2022 3:13 pm - 2 mins read
Interest Subsidy - Interest Subsidy from State Govt - Capital Receipt - ITAT - Birla Corporation - taxscan

The Income Tax Appellate Tribunal (ITAT), Kolkata Bench granted relief to Birla Corporation Limited and held that Claim of interest subsidy from State Government is capital receipt. The Departmentā€™s appeal relates to the assesseeā€™s, Birla Corporation Limited claim that interest subsidy, since renamed ā€œCapital Investment Subsidyā€, of Rupees three crores received under the amended Rajasthan…

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