Service of notice and contractual debt acknowledgment preserved insolvency admission against a corporate guarantor despite limitation and natural just...
Original works exemption excludes standalone boulder transportation, leaving subcontracted railway-project transport services subject to service tax l...
Annual production capacity determinations excluding stenter galleries support refunds for unconstitutional excise levies without an unjust-enrichment ...
Vicarious liability for cheque dishonour requires specific allegations of responsibility and cheque signatory; generic director allegations cannot sus...
IT Resilience Index requires market infrastructure institutions to automate resilience scoring, early warnings, and continuous service-delivery monito...
A subsidy received under the Jammu & Kashmir New Industrial Policy by way of GST/excise duty refund was treated as a capital receipt not chargeable to tax. The Tribunal noted that a claim raised only through a revised computation, and not in the return or a revised return, was not entertainable by the Assessing Officer. On merits, it examined the Industrial Policy dated 14.06.2002 and Notification No. 56/2002, applied the reasoning in Gravita Metal Inc., and found the refund incentive to be an exemption for a specified period rather than a revenue receipt. The appeal was allowed.
A subsidy received under the Jammu & Kashmir New Industrial Policy by way of GST/excise duty refund was treated as a capital receipt not chargeable to tax. The Tribunal noted that a claim raised only through a revised computation, and not in the return or a revised return, was not entertainable by the Assessing Officer. On merits, it examined the Industrial Policy dated 14.06.2002 and Notification No. 56/2002, applied the reasoning in Gravita Metal Inc., and found the refund incentive to be an exemption for a specified period rather than a revenue receipt. The appeal was allowed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4817 
Join Channel 
