Gain on settlement of sales tax deferred liability not taxable

Advocate Akhilesh Kumar Sah DCIT Vs Alfa Laval India Ltd. (ITAT Pune) Alfa Laval India Ltd. case: Difference between the Net Present Value against the future liability credited by the assessee under the capital reserve account in its books of account, is a capital receipt, the addition made on account of the gain on settlement of the sales tax deferred liability not taxable In DCIT vs. Alfa Laval India Ltd. [ITA No. 2638/PUN/2016 A.Y.: 2011-12, decided on 09.01.2019], one of the ground raised was whether on the facts and in the circumstances of the case, the CIT(A) was justified in holding t...