https://www.taxtmi.com/caselaws?id=361529 The tribunal upheld the treatment of Sales Tax (VAT) Exemption Benefit and Excise Duty incentive/refund as capital receipts. The appeals by the revenue were dismissed, as the incentives were granted for industrial development purposes and were rightfully considered capital in nature. The tribunal found no grounds to interfere with the CIT(A)'s decision, based on legal precedents and government policies. en-us Thu, 31 May 2018 00:00:00 +0530 Fri, 08 Jun 2018 08:58:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=361529 The tribunal upheld the treatment of Sales Tax (VAT) Exemption Benefit and Excise Duty incentive/refund as capital receipts. The appeals by the revenue were dismissed, as the incentives were granted for industrial development purposes and were rightfully considered capital in nature. The tribunal found no grounds to interfere with the CIT(A)'s decision, based on legal precedents and government policies. Case-Laws Income Tax Thu, 31 May 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=361529