https://www.taxtmi.com/caselaws?id=311913 ITAT Mumbai held that expert incentives under SHIS, incremental incentive scheme, and MLEPS were capital in nature. SHIS promoted technology upgradation investment, incremental incentive linked to new plant and machinery expenses, and MLEPS connected to employment generation for exports. CIT(A)'s decision allowing capital treatment was affirmed based on SC precedent in Ponni Sugars case. However, regarding education cess, ITAT reversed CIT(A)'s allowance, following Kanoria Chemicals precedent and Finance Bill 2022 clarification that education cess constitutes part of tax, making related expense claims inadmissible. en-us Thu, 28 Apr 2022 00:00:00 +0530 Sat, 20 Jan 2024 21:00:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=311913 ITAT Mumbai held that expert incentives under SHIS, incremental incentive scheme, and MLEPS were capital in nature. SHIS promoted technology upgradation investment, incremental incentive linked to new plant and machinery expenses, and MLEPS connected to employment generation for exports. CIT(A)'s decision allowing capital treatment was affirmed based on SC precedent in Ponni Sugars case. However, regarding education cess, ITAT reversed CIT(A)'s allowance, following Kanoria Chemicals precedent and Finance Bill 2022 clarification that education cess constitutes part of tax, making related expense claims inadmissible. Case-Laws Income Tax Thu, 28 Apr 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=311913