https://www.taxtmi.com/caselaws?id=179504 The Tribunal dismissed the appeal, affirming that the sales tax subsidy received by the assessee from the Government of Gujarat should be treated as a revenue receipt and hence taxable. The decision was based on the precedent set by the Punjab & Haryana High Court, emphasizing that the purpose of the subsidy determines its nature for taxability. The Tribunal upheld the order of the CIT (Appeals) and concluded that the subsidy was assessable as a revenue receipt, in line with earlier cases and jurisdictional High Court rulings. en-us Thu, 29 May 2014 00:00:00 +0530 Thu, 03 Mar 2016 11:14:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=179504 The Tribunal dismissed the appeal, affirming that the sales tax subsidy received by the assessee from the Government of Gujarat should be treated as a revenue receipt and hence taxable. The decision was based on the precedent set by the Punjab & Haryana High Court, emphasizing that the purpose of the subsidy determines its nature for taxability. The Tribunal upheld the order of the CIT (Appeals) and concluded that the subsidy was assessable as a revenue receipt, in line with earlier cases and jurisdictional High Court rulings. Case-Laws Income Tax Thu, 29 May 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=179504