Incentive for promotion of capital investment is capital receipt

HIGH COURT OF GUJARAT Commissioner of Income-tax versus Birla VXL Ltd. Tax Appeal Nos. 316 to 318 of 2012 Date of Pronouncement – 12.02.2013 ORDER Akil Kureshi, J. These Tax Appeals filed by the Revenue arise out of the common background. We may notice facts as arising in Tax Appeal No. 316 of 2012. 2. For the Assessment Year 1991-92, Revenue challenged the judgment and order of the Income Tax Appellate Tribunal dated 4th November 2011. Following question has been presented for our consideration :- “Whether in the circumstances and the facts of the case and in ...