https://www.taxtmi.com/caselaws?id=444168 The appellate tribunal allowed the appeal for statistical purposes and remanded the case to the CIT(A) for fresh adjudication. The tribunal found merit in the assessee's argument that export incentives under the MEIS scheme could be considered capital receipts not chargeable to tax, rather than revenue receipts. Additionally, the tribunal directed the CIT(A) to reconsider the exclusion of MEIS incentives from book profits under section 115JB, as the assessee challenged their inclusion in the return of income. The case requires further factual findings and legal analysis by the CIT(A). en-us Tue, 29 Aug 2023 00:00:00 +0530 Wed, 11 Oct 2023 08:40:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=444168 The appellate tribunal allowed the appeal for statistical purposes and remanded the case to the CIT(A) for fresh adjudication. The tribunal found merit in the assessee's argument that export incentives under the MEIS scheme could be considered capital receipts not chargeable to tax, rather than revenue receipts. Additionally, the tribunal directed the CIT(A) to reconsider the exclusion of MEIS incentives from book profits under section 115JB, as the assessee challenged their inclusion in the return of income. The case requires further factual findings and legal analysis by the CIT(A). Case-Laws Income Tax Tue, 29 Aug 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=444168