https://www.taxtmi.com/caselaws?id=328155 The Tribunal dismissed the Assessing Officer's appeal and partly allowed the assessee's appeal, directing the AO to treat sales tax and excise incentives as capital receipts. The Tribunal also instructed the exclusion of the debt redemption fund from the book profit calculation under Section 115JB. Emphasizing the 'purpose test' in subsidy analysis, the Tribunal upheld higher judicial precedents' binding nature. en-us Wed, 11 May 2016 00:00:00 +0530 Tue, 21 Jul 2026 17:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=328155 The Tribunal dismissed the Assessing Officer's appeal and partly allowed the assessee's appeal, directing the AO to treat sales tax and excise incentives as capital receipts. The Tribunal also instructed the exclusion of the debt redemption fund from the book profit calculation under Section 115JB. Emphasizing the 'purpose test' in subsidy analysis, the Tribunal upheld higher judicial precedents' binding nature. Case-Laws Income Tax Wed, 11 May 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=328155