M/S.KANNAN DEVAN HILLS PLANTATIONS COMPANY P. LTD,IDUKKI vs. THE ACIT, COCHIN

In the result, the appeal filed by the assessee stands partly allowed

Bench: SMT. BEENA PILLAI (Judicial Member), MS. PADMAVATHY S (Accountant Member)

section 10(30) are very specific and Page 4 of 17 clear on the nature of benefit to be granted to the assessee on subsidy receipts. It was also observed that there was no ambiguity in the intention of the Government in not notifying the subsidy in question that the same was not eligible for exemption u/s.10