https://www.taxtmi.com/caselaws?id=300370 The Tribunal partially allowed the appeal, determining that the Excise Duty refund received by the assessee was a capital receipt, reversing the lower authorities' decision. The Tribunal relied on a High Court judgment stating that such incentives for industrial development constituted capital receipts, not subject to tax under the Income Tax Act. The appeal was allowed in part, with dismissed grounds not pressed, in accordance with the High Court's ruling. en-us Fri, 24 Jun 2011 00:00:00 +0530 Fri, 28 Jan 2022 17:21:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=300370 The Tribunal partially allowed the appeal, determining that the Excise Duty refund received by the assessee was a capital receipt, reversing the lower authorities' decision. The Tribunal relied on a High Court judgment stating that such incentives for industrial development constituted capital receipts, not subject to tax under the Income Tax Act. The appeal was allowed in part, with dismissed grounds not pressed, in accordance with the High Court's ruling. Case-Laws Income Tax Fri, 24 Jun 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=300370