08/10/2026, 2 weeks ago
Supreme Court Holds Electricity Subsidy Linked to Power Consumption Is Taxable Revenue Receipt
Introduction: The Supreme Court has reiterated that the tax treatment of a subsidy depends not upon its nomenclature, source, timing or manner of payment, but upon the purpose for which the assistance is granted. Applying this settled “purpose test”, a bench comprising Justice Prashant Kumar Mishra and Justice Shree Chandrashekhar held that an electricity subsidy […]