https://www.taxtmi.com/caselaws?id=294153 The Tribunal ruled that the Industrial Promotion Subsidy received as a refund of Sales Tax was not taxable as it constituted a capital receipt under the relevant scheme. This decision was based on the subsidy's nature and purpose, aligning with a previous ruling in a similar case. Consequently, the appeal was allowed in favor of the assessee, emphasizing the non-taxability of the subsidy received. en-us Wed, 12 Dec 2018 00:00:00 +0530 Wed, 24 Mar 2021 09:08:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=294153 The Tribunal ruled that the Industrial Promotion Subsidy received as a refund of Sales Tax was not taxable as it constituted a capital receipt under the relevant scheme. This decision was based on the subsidy's nature and purpose, aligning with a previous ruling in a similar case. Consequently, the appeal was allowed in favor of the assessee, emphasizing the non-taxability of the subsidy received. Case-Laws Income Tax Wed, 12 Dec 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=294153