https://www.taxtmi.com/highlights?id=44989 Subsidy or incentive - purpose tests for grant of subsidy/incentive - incentives received in the form of Sales Tax and Central Excise benefit - revenue or capital receipt - If on facts it was proved that subsidy was granted under schemes framed by the State and the Central Government, to set up new industry in Kutch District or to encourage investment which would in turn, provide fresh employment opportunity in the district which had suffered due to devastating earthquake then applying purpose test it would in capital nature. en-us Fri, 08 Mar 2019 08:06:58 +0530 Fri, 08 Mar 2019 08:06:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=44989 Subsidy or incentive - purpose tests for grant of subsidy/incentive - incentives received in the form of Sales Tax and Central Excise benefit - revenue or capital receipt - If on facts it was proved that subsidy was granted under schemes framed by the State and the Central Government, to set up new industry in Kutch District or to encourage investment which would in turn, provide fresh employment opportunity in the district which had suffered due to devastating earthquake then applying purpose test it would in capital nature. Highlights Income Tax Fri, 08 Mar 2019 08:06:58 +0530 https://www.taxtmi.com/highlights?id=44989