https://www.taxtmi.com/caselaws?id=448829 Delhi HC ruled that sales tax subsidy received under the 1993 Package Scheme of Incentives constituted a capital receipt, not revenue. The court held that the scheme's primary objective was industrialization of underdeveloped areas through setting up new units or capital investment, not assisting ongoing business operations. Despite eligibility certificates being issued after production commencement, the subsidy remained capital in nature as it was directly linked to capital investment in fixed assets and aimed at establishing industrial units rather than supporting regular business activities. en-us Tue, 23 Jan 2024 00:00:00 +0530 Wed, 28 Aug 2024 12:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=448829 Delhi HC ruled that sales tax subsidy received under the 1993 Package Scheme of Incentives constituted a capital receipt, not revenue. The court held that the scheme's primary objective was industrialization of underdeveloped areas through setting up new units or capital investment, not assisting ongoing business operations. Despite eligibility certificates being issued after production commencement, the subsidy remained capital in nature as it was directly linked to capital investment in fixed assets and aimed at establishing industrial units rather than supporting regular business activities. Case-Laws Income Tax Tue, 23 Jan 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=448829