https://www.taxtmi.com/caselaws?id=763473 The ITAT Mumbai held that sales tax/VAT subsidy received by the assessee was capital in nature and not taxable, being linked to setting up an SSI unit in a backward area based on fixed capital investment. Income from carbon credit sales was also treated as capital receipt and non-taxable. The tribunal allowed deduction under section 80IA for an integrated rail system developed by the assessee, accepting the savings approach methodology for computing revenue based on difference between road and rail transportation costs. The assessee's valuation of internal transfer of NH coke at landed cost was upheld. All grounds were decided in favor of the assessee. en-us Tue, 17 Dec 2024 00:00:00 +0530 Thu, 19 Dec 2024 11:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=763473 The ITAT Mumbai held that sales tax/VAT subsidy received by the assessee was capital in nature and not taxable, being linked to setting up an SSI unit in a backward area based on fixed capital investment. Income from carbon credit sales was also treated as capital receipt and non-taxable. The tribunal allowed deduction under section 80IA for an integrated rail system developed by the assessee, accepting the savings approach methodology for computing revenue based on difference between road and rail transportation costs. The assessee's valuation of internal transfer of NH coke at landed cost was upheld. All grounds were decided in favor of the assessee. Case-Laws Income Tax Tue, 17 Dec 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=763473