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<h1>Court rules subsidies not taxable turnover, citing Neyveli Lignite case. Assessments overturned, tax refund ordered.</h1> The High Court of Madras held that subsidies received by a fertiliser manufacturer are not part of the taxable turnover. The court relied on a Supreme ... - The High Court of Madras ruled that subsidies received by a fertiliser manufacturer under a government scheme are not includible in the taxable turnover. The court referred to a Supreme Court decision in Neyveli Lignite Corporation Ltd. v. Commercial Tax Officer, Cuddalore. The assessment orders treating the subsidies as turnover were set aside, and the tax levied was to be refunded to the assessee.
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