COMMISSIONER OF INCOME-TAX Vs. SWARAN JYOTI

JUDGEMENT

(1.) HEARD learned standing counsel for the Revenue and counsel for the assessee. In our opinion, the Tribunal was right in holding that, consistent with the practice followed in previous years, cash subsidies should be taxed in the year in which they were received. The Tribunal has also noted that the assessee had neither asked for a change in that system for the relevant assessment year nor was any change ordered by the Income-tax Officer.

(2.) THE application is, accordingly, dismissed. No costs.