Subsidy granted by State to encourage hotel industry
Description: In CIT & Udupi Builders (p) Ltd. [2010] 32[I] ITCL 22 [Karn-HC]:[2009] 319 ITR 440[Karn]:[2010]229 CTR [Karn] 452, the assessee received a certain sum a subsidy granted by the state to encourage Hotel industry which he claimed towards capital investment . AO disallowed the claim but the CIT[A]Held that the subsidy had been granted […]
Read More