1998 (1) TMI 59

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....nder section 256(1) of the Income-tax Act, 1961, made at the instance of the Revenue, arising out of assessment year 1982-83, seeking the opinion of the High Court on the following question of law : "Whether, on the facts and in the circumstances of the case, the Tribunal was justified in holding that cash incentive of Rs. 31,35,832 received by the assessee was not a revenue receipt and thus no....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... given retrospective effect and according to which the amount shall be taxable as a revenue receipt. It is pointed out that the Finance Act, 1990, has added clause (iiib) in section 28 of the Act, the effect of which is that cash assistance (by whatever name called) received or receivable by any person against exports under any scheme of the Government of India is to be treated as income chargeabl....