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Sales Tax Subsidy Linked to Capital Investment is Capital Receipt: ITAT Mumbai
Case Law Details
- Case Name
- JCIT (OSD) Vs Grasim Industries Limited (ITAT Mumbai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 1996-97
- Courts
- All ITAT, ITAT Mumbai
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JCIT (OSD) Vs Grasim Industries Limited (ITAT Mumbai)
The Income Tax Appellate Tribunal (ITAT), Mumbai, dismissed the Revenue’s appeals for Assessment Years 1996-97 to 2000-01 and upheld the order of the Commissioner of Income Tax (Appeals) holding that sales tax, entry tax, purchase tax, VAT exemptions and similar incentives received by the assessee under various State Government schemes constituted capital receipts not chargeable to tax. The common issue in all appeals was whether the incentives received from the Governments of Maharashtra, Madhya Pradesh, Rajasthan and Ha...
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