https://www.taxtmi.com/caselaws?id=798485 MEIS duty credit scrips under the Foreign Trade Policy, 2015 constitute taxable revenue receipts from assessment year 2016-17. Applying the purpose test, the rewards offset recurring export-related costs and infrastructural inefficiencies, are linked to export turnover, and need not be used for capital assets; they therefore support the conduct of export business rather than its establishment or expansion. Section 2(24)(xviii) covers governmental assistance by whatever name called and cannot be narrowly restricted through ejusdem generis or noscitur a sociis. MEIS rewards qualify as grants, cash incentives or residuary governmental assistance, while neither statutory exclusion applies. en-us Tue, 25 Aug 2026 00:00:00 +0530 Tue, 08 Sep 2026 08:42:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=798485 MEIS duty credit scrips under the Foreign Trade Policy, 2015 constitute taxable revenue receipts from assessment year 2016-17. Applying the purpose test, the rewards offset recurring export-related costs and infrastructural inefficiencies, are linked to export turnover, and need not be used for capital assets; they therefore support the conduct of export business rather than its establishment or expansion. Section 2(24)(xviii) covers governmental assistance by whatever name called and cannot be narrowly restricted through ejusdem generis or noscitur a sociis. MEIS rewards qualify as grants, cash incentives or residuary governmental assistance, while neither statutory exclusion applies. Case-Laws Income Tax Tue, 25 Aug 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=798485