Disposed
Teh Commissioner of Income Tax a.P-Iihyd v. Nizam Sugar Factory Ltd. Hyd.
Telangana HCRC/25/1997
Case brief
AI extract
What is this about?
This order disposes of Reference Case No.25 of 1997 regarding incentive fitment. The court followed the Supreme Court ruling in Commissioner of Income Tax v. Ponni Sugars and Chemicals Ltd., holding government subsidies are capital in nature, and answered the referred question in favour of the assessee.
What did the court decide?
The reference question is answered in favour of the assessee.