https://www.taxtmi.com/caselaws?id=291961 The Tribunal dismissed the Revenue's appeal, upholding the CIT(A)'s decisions on both issues. The addition of Rs. 29,53,995/- as undisclosed profit was deleted due to lack of proper verification by the AO. The sales tax incentives of Rs. 24,94,66,520/- were accepted as capital receipts, aligning with judicial precedents and the objective of the West Bengal Incentive Scheme. The Tribunal also confirmed that these incentives should be excluded from the computation of book profit under section 115JB. en-us Fri, 29 Mar 2019 00:00:00 +0530 Wed, 02 Dec 2020 17:47:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=291961 The Tribunal dismissed the Revenue's appeal, upholding the CIT(A)'s decisions on both issues. The addition of Rs. 29,53,995/- as undisclosed profit was deleted due to lack of proper verification by the AO. The sales tax incentives of Rs. 24,94,66,520/- were accepted as capital receipts, aligning with judicial precedents and the objective of the West Bengal Incentive Scheme. The Tribunal also confirmed that these incentives should be excluded from the computation of book profit under section 115JB. Case-Laws Income Tax Fri, 29 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=291961