https://www.taxtmi.com/caselaws?id=18478 Cash compensatory support received against exports is treated as taxable income, not a non-taxable capital receipt. The Finance Act, 1990 retrospectively amended section 2(24) and section 28 of the Income-tax Act to include export cash assistance within the definition of income and to charge it under the head "Profits and gains of business or profession." As a result, under sections 2(24)(vb) and 28(iiib), such export incentive receipts are liable to income-tax from the date of their introduction, regardless of the label used for the payment. en-us Mon, 20 Nov 1995 00:00:00 +0530 Thu, 01 Oct 2009 12:11:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=18478 Cash compensatory support received against exports is treated as taxable income, not a non-taxable capital receipt. The Finance Act, 1990 retrospectively amended section 2(24) and section 28 of the Income-tax Act to include export cash assistance within the definition of income and to charge it under the head "Profits and gains of business or profession." As a result, under sections 2(24)(vb) and 28(iiib), such export incentive receipts are liable to income-tax from the date of their introduction, regardless of the label used for the payment. Case-Laws Income Tax Mon, 20 Nov 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=18478