https://www.taxtmi.com/caselaws?id=754199 ITAT Delhi allowed assessee's appeal regarding excise duty subsidy taxability. Assessee mistakenly declared capital receipt as revenue income in return, but CIT(A) refused to entertain the claim since it wasn't raised before AO or through revised return. ITAT held that tax authorities must collect only legitimate dues per law, and assessee cannot be barred from claiming relief for over-assessment due to mistake, citing SC and HC precedents. Matter remitted to AO for fresh determination of subsidy's capital nature after proper verification and reasonable opportunity to assessee. en-us Fri, 19 Apr 2024 00:00:00 +0530 Tue, 18 Jun 2024 09:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=754199 ITAT Delhi allowed assessee's appeal regarding excise duty subsidy taxability. Assessee mistakenly declared capital receipt as revenue income in return, but CIT(A) refused to entertain the claim since it wasn't raised before AO or through revised return. ITAT held that tax authorities must collect only legitimate dues per law, and assessee cannot be barred from claiming relief for over-assessment due to mistake, citing SC and HC precedents. Matter remitted to AO for fresh determination of subsidy's capital nature after proper verification and reasonable opportunity to assessee. Case-Laws Income Tax Fri, 19 Apr 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=754199