Excise Duty Reimbursement in Bihar Classified as Capital Receipt, Excluded from Book Profits u/s 115J.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....The subsidy received as Excise Duty reimbursement from the State of Bihar was in the nature of capital receipt. Hence the same cannot be added to arrive at book profits u/s 115J - HC....