https://www.taxtmi.com/caselaws?id=180386 The Tribunal upheld the taxation of the sales tax subsidy as a revenue receipt for the assessment year 2005-06, rejecting the assessee's claim that it should be treated as a capital receipt. The decision was based on previous rulings and the nature of the subsidy, along with legal declarations made by the assessee regarding pending legal questions before the High Court. The Tribunal directed the Assessing Officer to apply the High Court precedent to the current appeal, resulting in the dismissal of the assessee's appeal. en-us Fri, 25 Nov 2011 00:00:00 +0530 Tue, 22 Mar 2016 16:48:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=180386 The Tribunal upheld the taxation of the sales tax subsidy as a revenue receipt for the assessment year 2005-06, rejecting the assessee's claim that it should be treated as a capital receipt. The decision was based on previous rulings and the nature of the subsidy, along with legal declarations made by the assessee regarding pending legal questions before the High Court. The Tribunal directed the Assessing Officer to apply the High Court precedent to the current appeal, resulting in the dismissal of the assessee's appeal. Case-Laws Income Tax Fri, 25 Nov 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=180386