prayed
for the ad mission thereof for consideration of claim of
Technology Upgradation Fund (TUF) subsidy as capital receipt.
Admission of the additional ground ... India had
launched the Technology Upgradation Fund ('TUF') Scheme
which is to upgrade the technology and hence considering the
purpose test, the same
taken place in recent past including amalgamation of geographically contiguous RRBs, technology upgradation and recapitalization support provided to RRBs from time to time, a need ... financial inclusion in rural areas and to improve their functioning and technology upgradation, several steps had been initiated. The RRBs had rolled out to Core
from our side to modernise them; there was no effort for technological upgradation because there was no capital. The Government has not allotted any money ... renewal or technological upgradation. Extravagance on the part of the management is also one of the major factors behind the institutions becoming sick. Nobody
increasing the farmers' income and
export growth. The Scheme for Technology
upgradation/expansion/modernization/establishment being
implemented by the Ministry of Food Processing
Industries ... been decided to decentralise the
implementation of the scheme for Technology Upgradation
Establishment/ Modernisation of Food Processing
Industries in the 11 th Plan period
otherwise.
The Government is now giving some money for Technology Upgradation Fund. When the prices are crashing, who wants your technology upgradation fund? You have ... think even one-fifth of that money is spent for technology upgradation. If there are no buyers in the market, who will purchase the goods
revamp and develop this sector such as - Capital Subsidy Scheme, Technology Upgradation Fund, Infrastructure Development Scheme like Jute Service Centres, Raw Material Banks, Design Development ... make profit without making any innovation, without introducing any technological upgradation. That is why the entire jute industry in West Bengal has been suffering from
larger system,
or are items required for replacement,
modernization, technological upgradation or
expansion of the plant.
15. He further submits that from a bare perusal ... goods
or for rendering services, including those required for
replacement, modernization, technological
upgradation or expansion. It also includes packaging
machinery and equipment, refractories for initial
received by the assessee under Technology Upgradation Fund Scheme
(TUFS) for Textile and Jute industries during the above assessment year should be
treated as capital ... issue. As pointed
out on behalf of the assessee, a Technology Upgradation Fund Scheme
(TUFS) was introduced in 1999 to catalyze investments in textile
industries
view to providing its exporters with
requisite resources for modernization, technological upgradation,
product development and other activities.
Mr. Dastur also relied upon a Judgment
assessment year 2002-03: -
(i) The assessee was forced to upgrade its technology with
the advent of tough competition from makers of frost free
refrigerators ... large number of entrants in the refrigerator
market. Once the technology was upgraded by clearing the
usage of technical knowhow for payment of brand
