https://www.taxtmi.com/highlights?id=85216 ITAT determined that excise duty refund received under Notification No.39/2001 Central Excise, issued as part of earthquake relief incentive scheme for Kutch District, Gujarat, constitutes a capital receipt. Following precedent established in prior rulings (2005-06 and 2006-07), the Tribunal maintained that such refunds, granted as disaster relief incentives, retain capital character and are not subject to taxation. Considering the scheme's objective of rehabilitation post-devastation, the refund represents a capital inflow rather than revenue receipt. Appeal allowed, confirming the non-taxable nature of the excise duty refund as capital receipt. en-us Mon, 27 Jan 2025 08:40:02 +0530 Mon, 27 Jan 2025 08:40:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=85216 ITAT determined that excise duty refund received under Notification No.39/2001 Central Excise, issued as part of earthquake relief incentive scheme for Kutch District, Gujarat, constitutes a capital receipt. Following precedent established in prior rulings (2005-06 and 2006-07), the Tribunal maintained that such refunds, granted as disaster relief incentives, retain capital character and are not subject to taxation. Considering the scheme's objective of rehabilitation post-devastation, the refund represents a capital inflow rather than revenue receipt. Appeal allowed, confirming the non-taxable nature of the excise duty refund as capital receipt. Highlights Income Tax Mon, 27 Jan 2025 08:40:02 +0530 https://www.taxtmi.com/highlights?id=85216