Search and seizure: abatement of earlier search bars use of prior seized material in later search-based assessments; relief limited to new documents f...
Admission of additional evidence under remand rules must await a meaningful remand report; failure to do so breaches natural justice and mandates rema...
Export Obligation Discharge Certificates for EPCG compliance cannot be questioned by Customs unless DGFT adjudicates and cancels them, so demands quas...
Classification of a sales tax subsidy was determined by the purpose test: where an exemption is designed to encourage fixed capital investment and employment, linked to capital outlay and available for a limited period, its dominant object is to promote capital formation and not recurring operations. Time or manner of receipt is immaterial; the subsidy operates as an incentive for capital investment. Applying this principle, the court concluded the subsidy is a capital receipt and not taxable as revenue, and the challenge to retention by the assessee was rejected.
Classification of a sales tax subsidy was determined by the purpose test: where an exemption is designed to encourage fixed capital investment and employment, linked to capital outlay and available for a limited period, its dominant object is to promote capital formation and not recurring operations. Time or manner of receipt is immaterial; the subsidy operates as an incentive for capital investment. Applying this principle, the court concluded the subsidy is a capital receipt and not taxable as revenue, and the challenge to retention by the assessee was rejected.
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