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1 - 10 of 18 (3.15 seconds)The Coinage Act, 2011
Section 195 in The Income Tax Act, 1961 [Entire Act]
Section 14A in The Income Tax Act, 1961 [Entire Act]
Nirmala Sahu vs State Of Chhattisgarh 40 Wps/432/2017 ... on 18 May, 2018
10. TUF subsidy is granted in order to encourage the
upgradation of technology and size. So as to meet the global
challenges, the Ministry of Textiles, Government of India had
launched the Technology Upgradation Fund ('TUF') Scheme
which is to upgrade the technology and hence considering the
purpose test, the same needs to be treated as capital in nature.
The subsidy is g ranted to improve technology upgradation in
the context of liberalization of the industry and trade policy in
order to improve competitiveness and long term viability . The
benefits under the TUF are available for modernization and
expansion of existing units and also for setting up of new units
in various segments of tex tiles and jute industry. Taking into
consideration, the decision of Hon'ble Hig h Court of Punjab &
Haryana in the case of C IT Vs. Sham Lal Bansal 200 Taxmann
14, judgment of Hon'ble Jammu & Kashmir High Court in the
case Balaji Alloy s Vs. CIT and taking into consideration the
judgments of Hon'ble Apex Court in the case of Ponni Sugars &
Chemicals Ltd. Vs. C IT 229 ITR 383 and Sahney Steel and Press
11 ITA No.5929/Del/2019
Cheslind TextilesLtd.
The Management Of Siruguppa Sugars And ... vs C.S. Mohan And Anr. on 28 May, 2002
10. TUF subsidy is granted in order to encourage the
upgradation of technology and size. So as to meet the global
challenges, the Ministry of Textiles, Government of India had
launched the Technology Upgradation Fund ('TUF') Scheme
which is to upgrade the technology and hence considering the
purpose test, the same needs to be treated as capital in nature.
The subsidy is g ranted to improve technology upgradation in
the context of liberalization of the industry and trade policy in
order to improve competitiveness and long term viability . The
benefits under the TUF are available for modernization and
expansion of existing units and also for setting up of new units
in various segments of tex tiles and jute industry. Taking into
consideration, the decision of Hon'ble Hig h Court of Punjab &
Haryana in the case of C IT Vs. Sham Lal Bansal 200 Taxmann
14, judgment of Hon'ble Jammu & Kashmir High Court in the
case Balaji Alloy s Vs. CIT and taking into consideration the
judgments of Hon'ble Apex Court in the case of Ponni Sugars &
Chemicals Ltd. Vs. C IT 229 ITR 383 and Sahney Steel and Press
11 ITA No.5929/Del/2019
Cheslind TextilesLtd.
Hindustan Steel Works Construction Ltd vs C. Rajasekhar Rao on 27 July, 1987
Works Ltd. Vs. C IT 228 ITR 253, we hereby hold that the
assessee is eligible to treat the same as capital receipt.
Article 2 in Constitution of India [Constitution]
Transmission Corpn. Of Ap Ltd. vs Asstt. Cit, Circle (2) on 24 February, 2005
Thus it is clear t hat the C IT (Appeals ) has f ollowed the
decisi on of the Trib unal i n cas e of Divi's Labor atories Pvt.
Ltd. (supra). The lear ned Departmental R epresentativ e has
not brought to our notice any contrary decision/pr ecedenc e.
In view of the abov e facts and circums tanc es of the ca se
where the c ommission payment i n question is not tr eated by
the Assessi ng Of ficer as ITS or royalty t hen i n the absence
of PE, it is not chargeabl e to ta x in India. The learned
Depa rtmental R epres entative has relied upon the
Explanati on 2 of S ecti on 195(1 ) of t he Ac t. However, we are
of the vi ew that this Explanation 2 to S ection 195(1) woul d
not obliterate the prerequisite c ondition of S ecti on 1 95(1)
that "s um chargeable
under the provisions of the Act ". We f urther note that an
identical issue has been considered by t he co-or dinate
benc h of this Tribunal in the case of Za nav H ome C ollecti on
(supra) in paras 3 8 t o 41 as under: