https://www.taxtmi.com/caselaws?id=352206 The High Court set aside the order of the Principal Commissioner of Income Tax-8, ruling in favor of the Petitioner. The Court held that the sales tax subsidy received should be treated as a capital receipt, not to be included in the Petitioner's income for Assessment Years 2007-08 to 2010-11. The Assessing Officer was directed to revise the assessment orders accordingly, following the Court's decision and precedents, including the Supreme Court's ruling in CIT v. Ponni Sugars and Chemicals Limited. en-us Thu, 07 Dec 2017 00:00:00 +0530 Fri, 30 Mar 2018 18:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=352206 The High Court set aside the order of the Principal Commissioner of Income Tax-8, ruling in favor of the Petitioner. The Court held that the sales tax subsidy received should be treated as a capital receipt, not to be included in the Petitioner's income for Assessment Years 2007-08 to 2010-11. The Assessing Officer was directed to revise the assessment orders accordingly, following the Court's decision and precedents, including the Supreme Court's ruling in CIT v. Ponni Sugars and Chemicals Limited. Case-Laws Income Tax Thu, 07 Dec 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=352206