Capital receipts mistakenly offered to tax is a mistake apparent on record

Ritum Jain Vs DCIT (ITAT Kolkata) ITAT Held that sales tax subsidy is capital receipt mistakenly offered by the assessee as income is mistake apparent on record. Accordingly, appropriate relief/ refund available to assessee. Facts- The brief facts of the case are that the assessee received an amount of Rs. 2,92,39,388/- as sales tax subsidy from the West Bengal Government. The assessee offered the same for taxation in the return of income and the assessment was accordingly framed by the Assessing Officer u/s 153A r.w.s. 143(3) of the Income Tax Act vide order dated 29.12.2016. However, subsequ...