https://www.taxtmi.com/caselaws?id=359089 The Tribunal upheld the CIT(A)'s decision, treating the sales tax subsidy as a capital receipt not to be adjusted against the cost of depreciable assets. It also ruled that Excise Duty should not be included in the valuation of closing stock for goods still in the factory premises. The judgments were pronounced on 20th April 2018, dismissing the Revenue's appeals and allowing the assessee's appeals. en-us Fri, 20 Apr 2018 00:00:00 +0530 Mon, 23 Apr 2018 10:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=359089 The Tribunal upheld the CIT(A)'s decision, treating the sales tax subsidy as a capital receipt not to be adjusted against the cost of depreciable assets. It also ruled that Excise Duty should not be included in the valuation of closing stock for goods still in the factory premises. The judgments were pronounced on 20th April 2018, dismissing the Revenue's appeals and allowing the assessee's appeals. Case-Laws Income Tax Fri, 20 Apr 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=359089