https://www.taxtmi.com/caselaws?id=178457 The ITAT Amritsar allowed the appeal for the assessment year 2006-07, holding excise duty refund and interest subsidy as capital receipts not taxable under section 80-IB. The court followed a judgment by the J & K High Court, which determined that these incentives served a public purpose by creating new assets and employment opportunities. As a result, the amounts were considered capital receipts and not subject to tax, leading to the partial allowance of the appeal. Other related grounds were not addressed as the main issue was decided in favor of the assessee. en-us Tue, 21 Jun 2011 00:00:00 +0530 Fri, 05 Feb 2016 12:06:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=178457 The ITAT Amritsar allowed the appeal for the assessment year 2006-07, holding excise duty refund and interest subsidy as capital receipts not taxable under section 80-IB. The court followed a judgment by the J & K High Court, which determined that these incentives served a public purpose by creating new assets and employment opportunities. As a result, the amounts were considered capital receipts and not subject to tax, leading to the partial allowance of the appeal. Other related grounds were not addressed as the main issue was decided in favor of the assessee. Case-Laws Income Tax Tue, 21 Jun 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=178457