https://www.taxtmi.com/caselaws?id=787234 Sales tax amounts retained by an industrial undertaking under a state capital investment incentive scheme, to the extent permitted as retention equal to capital investment, constitute capital receipts rather than taxable revenue receipts; the article concludes that where the scheme and factual matrix materially correspond to earlier authoritative decisions which were not overturned on challenge, the retained sales tax is excluded from taxable business income for the assessment year considered. The analysis relies on consistency with prior precedent and the identical operative effect of the incentive provision on the nature of the receipt. en-us Tue, 24 Feb 2026 00:00:00 +0530 Sat, 28 Feb 2026 08:41:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=787234 Sales tax amounts retained by an industrial undertaking under a state capital investment incentive scheme, to the extent permitted as retention equal to capital investment, constitute capital receipts rather than taxable revenue receipts; the article concludes that where the scheme and factual matrix materially correspond to earlier authoritative decisions which were not overturned on challenge, the retained sales tax is excluded from taxable business income for the assessment year considered. The analysis relies on consistency with prior precedent and the identical operative effect of the incentive provision on the nature of the receipt. Case-Laws Income Tax Tue, 24 Feb 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=787234