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of <h1>High Court rules sales tax subsidies as non-taxable incentives under Income-tax Act</h1> <h3>Commissioner Of Income-Tax Versus RCC. Hume-pipe And Products</h3> The High Court of Madhya Pradesh rejected an application under section 256 of the Income-tax Act, 1961, regarding the taxability of sales tax subsidy ... Sales Tax Subsidy, Subsidy The High Court of Madhya Pradesh rejected an application under section 256 of the Income-tax Act, 1961, regarding the taxability of sales tax subsidy received by the assessee from the Madhya Pradesh Government. The court cited a previous case where it was held that such subsidies were not taxable as revenue receipts but as incentives for capital investment. Therefore, the application was rejected.
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