Income from trial run sales is capital, not taxable revenue; offsets plant setup costs, not income tax.

Income from trial run sales is capital, not taxable revenue; offsets plant setup costs, not income tax. https://www.taxtmi.com/highlights?id=33870 Income generated on sale of goods generated on trial run - taxable as revenue or not - if the assessee receives any amounts which are inextricably linked with the process of setting up its plant and machinery, such receipts will go to reduce the cost of its assets. These are receipts of a capital nature and cannot be taxed as income. - AT en-us Tue, 21 Mar 2017 08:58:50 +0530 Tue, 21 Mar 2017 08:58:50 +0530 TaxTMI RSS Generator Income from trial run sales is capital, not taxable revenue; offsets plant setup costs, not income tax. https://www.taxtmi.com/highlights?id=33870 Income generated on sale of goods generated on trial run - taxable as revenue or not - if the assessee receives any amounts which are inextricably linked with the process of setting up its plant and machinery, such receipts will go to reduce the cost of its assets. These are receipts of a capital nature and cannot be taxed as income. - AT Highlights Income Tax Tue, 21 Mar 2017 08:58:50 +0530 https://www.taxtmi.com/highlights?id=33870