https://www.taxtmi.com/caselaws?id=66555 Industrial incentive subsidies given to promote establishment and growth of a unit are treated by reference to their purpose and context, and are capital in nature rather than trading receipts; the power subsidy was therefore capital. Section 43B applies only to covered statutory dues remaining unpaid in the relevant sense, so timely paid sales tax could not be disallowed on that ground; mineral rights tax was treated as outside the provision, and leave encashment was recognised as an ascertained liability subject to actuarial valuation. Liability for levy cement shortfall and replacement of a diesel engine was allowable as business expenditure. Investment allowance was available on an internal telephone exchange, air-conditioner eligibility depended on facts, and plant roads were not qualifying assets; guest house expenditure was partly sustained. en-us Thu, 29 Jul 1993 00:00:00 +0530 Mon, 28 Feb 2011 11:59:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=66555 Industrial incentive subsidies given to promote establishment and growth of a unit are treated by reference to their purpose and context, and are capital in nature rather than trading receipts; the power subsidy was therefore capital. Section 43B applies only to covered statutory dues remaining unpaid in the relevant sense, so timely paid sales tax could not be disallowed on that ground; mineral rights tax was treated as outside the provision, and leave encashment was recognised as an ascertained liability subject to actuarial valuation. Liability for levy cement shortfall and replacement of a diesel engine was allowable as business expenditure. Investment allowance was available on an internal telephone exchange, air-conditioner eligibility depended on facts, and plant roads were not qualifying assets; guest house expenditure was partly sustained. Case-Laws Income Tax Thu, 29 Jul 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=66555