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The Tax Publishers2020 TaxPub(DT) 2441 (Pune-Trib) INCOME TAX ACT, 1961
Section 4
Sales-tax subsidy received by assessee under PSI, 2007 Scheme was capital receipt not chargeable to tax.
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Income - Capital or revenue receipt - Sales tax subsidy under PSI, 2007 -
Assessee received sales-tax subsidy under PSI, 2007. AO taxed the same as revenue receipt.Held: Sales-tax subsidy received by assessee under PSI, 2007 Scheme was capital receipt not chargeable to tax.
Relied:Innoventive Industries Limited (Erstwhile Arihant Domestic Applicances Ltd. v. Dy. CIT [[ITA No.601/PN/2013, assessment year 2009-10, decided on 24-3-2017].
REFERRED :
FAVOUR : In assessee's favour.
A.Y. : 2012-13
INCOME TAX ACT, 1961
Section 14A
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