interest reimbursement of Rs.1,81,81,351/- under TUFS.
3. That the Ld. CIT (A) has erred in law in not allowing the claim ... reimbursement of Rs.1,81,81,351/- under Technology
Upgradation Fund Scheme (TUFS) as capital receipt.
2
Following grounds raised by the Assessee
Ministry of Textiles, Government of India has formulated
Technology Upgradation Fund Scheme (TUFS) for Textile and Jute
Industry. Under the said scheme, the interest subsidy ... claim that the interest subsidy received by the assessee
under TUFS is a capital receipt, hence, not taxable. Thus, he
submitted, the issue is covered
Tuf Steels Pvt. Ltd. vs Rashtriya Labour Union (Gujarat ... on 18 June, 2019
Author: Paresh Upadhyay
Bench: Paresh Upadhyay
C/SCA/3834/2019 ORDER
Tuf Steels Pvt. Ltd. vs Rashtriya Labour Union (Gujarat ... on 12 June, 2019
Author: Bhargav D. Karia
Bench: Bhargav D. Karia
C/SCA/4237/2019 ... GUJARAT AT AHMEDABAD
R/SPECIAL CIVIL APPLICATION NO. 4237 of 2019
==========================================================
HY TUF STEELS PVT. LTD.
Versus
RASHTRIYA LABOUR UNION (GUJARAT CIRCLE)
==========================================================
Appearance:
MR PRABHAKAR
2018
A.Y.2005-06
in treating the reimbursement of interest
under TUF scheme of the Ministry of Textiles,
Government of India, as capital receipt ... justified in treating the reimbursement of
interest under TUF scheme of the Ministry of
Textiles, Government of India, as capital receipt
instead of revenue receipt
relates to treatment of the subsidy received under technical
upgradation fund scheme (TUF scheme). Whether TUF subsidy is capital in
nature or revenue in nature ... issue are that the issue relating to subsidy received under
TUF scheme has not been discussed by the Assessing Officer in his assessment
order. However
Gaurav Agrawal vs Tuf Metallurgical Pvt. Ltd on 4 September, 2019
NATIONAL COMPANY LAW APPELLATE TRIBUNAL
NEW DELHI
Company Appeal ... Albus
India Ltd.
17 Recreation Road
Raipur - 492001
Versus
1. M/s Tuf Metallurgical Financial Creditor Respondent No.1
(P) Ltd.
TUF House
reimbursement of Rs.8,78,00,400/-under Technology Upgradation
Fund Scheme (TUFS) as revenue receipt instead of capital receipt".
4. It was contended
reduce the assessed income of assessee company to the
extent of TUFS subsidy received while treating it as a capital receipt."
4. From ... that only issue agitated by the Department
relates to the nature of TUFS subsidy received by the assessee i.e; as to whether
breakup of which is as under:-
AY Net TUF Claim
(Rupees in Crore ... commission order
29. In view of the above, it is clear that TUF subsidy received by the MIL is
capital receipt in nature
