Bini Agencies, Thrissur vs. ITO, Ward 1(2), Thrissur
In the result, the appeal filed by the assessee stands partly allowed
ITA 232/COCH/2025[2013-14]Status: DisposedITAT Cochin31 Jul 2025AY 2013-14
Bench: Shri Inturi Rama Rao, Am & Shri Sonjoy Sarma, Jm Assessment Year: 2013-14 Bini Agencies .......... Appellant 28/642, Municipal Rest House Round North, Thrissur 680001 [Pan: Aacfb9538Q] Vs. The Income Tax Officer, Wd-1(2), Thrissur .......... Respondent Appellant By: Shri Sridhar S., Advocate Respondent By: Smt. Leena Lal, Sr. D.R. Date Of Hearing: 10.06.2025 Date Of Pronouncement: 31.07.2025
For Appellant: Shri Sridhar S., AdvocateFor Respondent: Smt. Leena Lal, Sr. D.R
Section 143(3)Section 36(1)(va)
…as, the subsidy was not given in order to subsidise the operational expenses but the subsidy was given to encourage setting up new hotels. Also placed reliance on the decision of the Hon'ble Kerala High Court in the case of CIT v. Peermade Tea Co. Ltd. [1995] 213 ITR 116. 6. On the other hand, the learned Sr. DR submits that the subsidy was given only after the business have actually set up and, therefore, it cannot be treated as capital receipt. 7. We have heard the rival contentions and perused the material available on record. The issue in the present appeal is whether the subsidy received by the appellant fi…
