received by
assessee as interest subsidy under Technology Upgradation Fund Scheme (TUFS) since
these receipts qualify in the nature of capital receipt ... received by
assessee as interest subsidy under Technology Upgradation Fund Scheme (TUFS) since
these receipts qualify in the nature of capital receipt.
3. The appellant
eligible
machinery imported under the Technology Upgradation Fund
Scheme (hereinafter referred to as the "TUFS") enacted by the
Ministry of Textiles ... primarily
stated that the respondent no 1 to facilitate modernization and
technological upgradation of the Textile Mills has launched TUFS for
Textile and Jute Industries
been stated that the scheme was applicable to the units
undertaking technology upgradation / modernisation programs either
through bank loan or self-financing.
3. The petitioner ... contended that the scheme envisaged purchase of
machineries towards modernisation and technology upgradation and
therefore, the petitioner had purchased 13 machineries and sought
subsidy
that the dispute itself
emanates from the provisions made in the Technology Upgradation
Funds Scheme ["TUFS"]. While dealing with this aspect, the ITAT ... subsidy. We find that under the said Scheme, Government
recognised that technology upgradation in the textile industry
would result in capacity expansion and modernisation which
Dcit, Cc-7(2), Mumbai vs M/S. Patanjali Foods Ltd.,( Formerly ... on 5 April
Dcit, Cc-7(2), Mumbai vs M/S. Patanjali Foods Ltd.,( Formerly ... on 5 April
Dcit, Cc-7(2), Mumbai vs M/S. Patanjali Foods Ltd.,( Formerly ... on 5 April
M/S. Patanjali Foods Ltd (Formerly ... vs Dy Comm Of Income Tax- Central ... on 5
industry, the concerned
Ministry of Textile adopted the TUFS scheme,
envisaging technology upgradation of the industry.
Under the scheme, there were two options, either ... reimburse the interest charged on the lending agency
on purchase of technology upgradation or to give capital
subsidy on the investment in compatible machinery
industry, the concerned
Ministry of Textile adopted the TUFS scheme,
envisaging technology upgradation of the industry.
Under the scheme, there were two options, either ... reimburse the interest charged on the lending agency
on purchase of technology upgradation or to give capital
subsidy on the investment in compatible machinery
