https://www.taxtmi.com/highlights?id=74508 Revenue or capital receipt - sales tax subsidy/incentive under the Package Scheme of Incentives Scheme, 1993 - The High Court held that the sales tax subsidy/incentive received under the 1993 Scheme should be treated as a capital receipt. The principle evolved in this judgment emphasizes the importance of the "purpose test" in determining the nature of subsidies or incentives received by an assessee, focusing on the purpose and object of the scheme under which the subsidy is granted. en-us Wed, 31 Jan 2024 08:26:35 +0530 Wed, 31 Jan 2024 08:26:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=74508 Revenue or capital receipt - sales tax subsidy/incentive under the Package Scheme of Incentives Scheme, 1993 - The High Court held that the sales tax subsidy/incentive received under the 1993 Scheme should be treated as a capital receipt. The principle evolved in this judgment emphasizes the importance of the "purpose test" in determining the nature of subsidies or incentives received by an assessee, focusing on the purpose and object of the scheme under which the subsidy is granted. Highlights Income Tax Wed, 31 Jan 2024 08:26:35 +0530 https://www.taxtmi.com/highlights?id=74508