https://www.taxtmi.com/caselaws?id=286747 The revenue's appeal against the deletion of an addition of Rs. 41,49,365/- on account of remission of sales tax on finished goods was dismissed. The Tribunal upheld the Ld. CIT(A)'s decision, determining the sales tax incentive as a capital receipt rather than a revenue receipt, based on the purpose for which it was granted. The Tribunal emphasized that the subsidy was for setting up the industry, not for business operations, in line with previous decisions. Consequently, the revenue's appeal was rejected, affirming the capital nature of the subsidy. en-us Tue, 16 Nov 2010 00:00:00 +0530 Sat, 14 Mar 2020 09:45:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=286747 The revenue's appeal against the deletion of an addition of Rs. 41,49,365/- on account of remission of sales tax on finished goods was dismissed. The Tribunal upheld the Ld. CIT(A)'s decision, determining the sales tax incentive as a capital receipt rather than a revenue receipt, based on the purpose for which it was granted. The Tribunal emphasized that the subsidy was for setting up the industry, not for business operations, in line with previous decisions. Consequently, the revenue's appeal was rejected, affirming the capital nature of the subsidy. Case-Laws Income Tax Tue, 16 Nov 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=286747