Government Incentive from Market Linked Focus Product Scheme Not Classified as Income Under Income Tax Act Sections 2(24) & 28.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Nature of receipt of Premium on transfer of Market Linked Focus Product Scheme scrips - revenue or capital receipt - the incentive given by the Government to the assessee for exploring the new market is a capital receipt, hence it cannot be treated as income either u/s 2(24) or 28 of the Act. - AT....