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Incentive received from Government for exploring new market -capital receipt or revenue receipt?
Case Law Details
- Case Name
- JCIT (OSD) Vs Eastman Exports Global Clothing (P) Ltd. (ITAT Chennai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2013-14 & 2016-17
- Courts
- All ITAT, ITAT Chennai
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JCIT (OSD) Vs Eastman Exports Global Clothing (P) Ltd. (ITAT Chennai)
We have considered the rival submissions on either side and also perused the relevant material available on record. The Market Linked Focus Product Scheme is a scheme promoted by the Director General of Foreign Trade wherein incentive @ 2% on the FOB value of the total export was allowed. As per the Scheme, the incentive was given to export products in a specified market. The export of products which are covered under FPS list would be given incentive of 2% on FOB value of the export. In other words, it is an incentive given...
