Handicraft job work receives concessional GST only for registered principals and predominantly handmade goods; commercial resin articles remain taxabl...
Reassessment disclosure requirements permit stated reasons without revealing information sources, but prior-taxation claims require full examination b...
Independent assessment discretion and corroborated electronic evidence determine validity of on-money additions and undisclosed-consideration assessme...
The ITAT dismissed the revenue's appeal, holding that the fertilizer subsidy received by the assessee under the NBS policy is a capital receipt not chargeable to tax. The ITAT followed its earlier decision in the assessee's case for AY 2015-16, where it was held that the scheme's purpose was to attract investment in the industry and make fertilizers available to farmers at appropriate prices, which could only be achieved by bringing new investments. The ITAT reiterated that this is a recurring issue already adjudicated in favor of the assessee.
The ITAT dismissed the revenue's appeal, holding that the fertilizer subsidy received by the assessee under the NBS policy is a capital receipt not chargeable to tax. The ITAT followed its earlier decision in the assessee's case for AY 2015-16, where it was held that the scheme's purpose was to attract investment in the industry and make fertilizers available to farmers at appropriate prices, which could only be achieved by bringing new investments. The ITAT reiterated that this is a recurring issue already adjudicated in favor of the assessee.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
