COMMISSIONER OF INCOME TAX Vs. RASOI LIMITED

JUDGEMENT

(1.) This appeal under Section 260A of the Income-tax Act is at the instance of the Revenue and is directed against the order dated 18th May, 2001 passed by the Income-tax Appellate Tribunal, "E" Bench, Calcutta in ITA No. 1080(Cal) of 1998 relating to the Assessment Year 1995-96 allowing an appeal preferred by the Assessee.

(2.) Being dissatisfied, the Revenue has come up with the present appeal.

(3.) The only question that fell for determination before the Commissioner of Income-tax (Appeals) as well as the Tribunal below was whether the subsidy granted by the Government of West Bengal in favour of the Assessee to the extent of Rs. 5,34,86,887/- should be treated to be a capital receipt or not.