https://www.taxtmi.com/caselaws?id=179530 Sales-tax incentives under the Maharashtra 1993 scheme are characterised as capital receipts where linked to fixed capital investment and intended to promote industrial development in backward areas, rather than trading operations. Capital-gains exemption for relocation cannot be treated as a subsidy, grant or reimbursement reducing actual asset cost for depreciation. Appellate powers do not permit setting aside issues for fresh adjudication after the relevant amendment; disputed expense and MAT-credit matters require merits-based appellate consideration. Ad hoc sales-promotion disallowances require identified defects and evidence. Building repairs that merely preserve existing assets remain revenue expenditure. Interest for excess refund is inapplicable before its operative date, while advance-tax interest requires recomputation on revised-return income where applicable. 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 Sales-tax incentives under the Maharashtra 1993 scheme are characterised as capital receipts where linked to fixed capital investment and intended to promote industrial development in backward areas, rather than trading operations. Capital-gains exemption for relocation cannot be treated as a subsidy, grant or reimbursement reducing actual asset cost for depreciation. Appellate powers do not permit setting aside issues for fresh adjudication after the relevant amendment; disputed expense and MAT-credit matters require merits-based appellate consideration. Ad hoc sales-promotion disallowances require identified defects and evidence. Building repairs that merely preserve existing assets remain revenue expenditure. Interest for excess refund is inapplicable before its operative date, while advance-tax interest requires recomputation on revised-return income where applicable. Case-Laws Income Tax Fri, 04 Dec 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=179530