https://www.taxtmi.com/caselaws?id=179530 The note discusses tax treatment of a Maharashtra sales-tax incentive, holding it as a capital receipt linked to fixed capital investment and industrial development rather than trading operations. It also states that section 54G exemption does not constitute subsidy, grant or reimbursement for Explanation 10 to section 43(1), so actual cost and depreciation are not reduced on that basis. The commentary further covers the post-amendment bar on appellate set-aside, deletion of ad hoc disallowance for sales promotion expenses, classification of building repairs as revenue expenditure, non-levy of section 234D interest for the year concerned, and recomputation of interest under sections 234B and 234C on the basis indicated. en-us Fri, 04 Dec 2009 00:00:00 +0530 Mon, 25 Sep 2023 13:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=179530 The note discusses tax treatment of a Maharashtra sales-tax incentive, holding it as a capital receipt linked to fixed capital investment and industrial development rather than trading operations. It also states that section 54G exemption does not constitute subsidy, grant or reimbursement for Explanation 10 to section 43(1), so actual cost and depreciation are not reduced on that basis. The commentary further covers the post-amendment bar on appellate set-aside, deletion of ad hoc disallowance for sales promotion expenses, classification of building repairs as revenue expenditure, non-levy of section 234D interest for the year concerned, and recomputation of interest under sections 234B and 234C on the basis indicated. Case-Laws Income Tax Fri, 04 Dec 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=179530