DCIT CENTRAL CIRCLE-31 DELHI, NEW DELHI vs. RSWM LTD., BHILWARA

ITA 907/JODH/2024Status: DisposedITAT Jodhpur29 September 2025Bench: DR. MITHA LAL MEENA, HON'BLE ACCOUNTANT MEMBER AND ANIKESH BANERJEE, HON'BLE (Judicial Member)1 pages
AI SummaryDismissed

What did the Tribunal hold?

The Tribunal held that the interest subsidy received under TUFS and RIPS was for technological upgradation, capacity expansion, and employment generation, thus qualifying as a capital receipt. The Tribunal found no reason to interfere with the CIT(A)'s decision.

What were the facts?

The assessee received interest subsidy under the Technology Upgradation Fund Scheme (TUFS) and Rajasthan Investment Promotion Scheme (RIPS). The Assessing Officer treated it as revenue, but the CIT(A) held it to be a capital receipt. The Revenue appealed this decision.

What were the issues?

Whether interest subsidy received under TUFS and RIPS is a capital or revenue receipt, and whether it can be considered a capital receipt even if not initially claimed in the return of income.

Which sections of the Income-tax Act were involved?

Section 139(5),Section 115JB

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Income Tax Appellate Tribunal, JODHPUR BENCH, JODHPUR

Before: DR. MITHA LAL MEENA, HONBLE & ANIKESH BANERJEE, HONBLE

The Captioned appeals are filed by the Revenue against the separate order passed by the Ld. Commissioner of Income Tax, (Appeals) Ajmer, [hereinafter referred to as CIT(A))] even dated 27.11.2017, in respect with Assessment Years 2009-10 and Assessment Year 2011-12 to 2013-14. 2. The revenue has raised common issues in the grounds of the above four appeals on identical facts except variation in quantum of addition and therefore all these four appeals were heard together and adjudicated by this consolidated order for the sake of brevity. The appeal in ITA No.906/Jodh/2024 with respect to assessment year 2009-10 is taken as lead case for discussion of the facts

The order continues below.

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