Consideration for transfer of sales tax incentive taxable as revenue receipt

Issue :- The assessee’s contention is that the subsidy/benefit so received is a capital receipt not liable to tax whereas the revenue authorities have considered such sales tax benefits/subsidies as revenue receipt and have taxed accordingly.

Held :- Assessee has sold its sales tax incentives and what it has received is not sales tax benefit/incentive but sale consideration on transfer of its entitlement and sale consideration is nothing but is a benefit directly arising from business an

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