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Incentive received under sales tax scheme is capital receipt: Bombay HC
Case Law Details
- Case Name
- Bajaj Auto Limited Vs DCIT (Bombay High Court)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- All High Courts, Bombay High Court
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Bajaj Auto Limited Vs DCIT (Bombay High Court)
Bombay High Court held that incentive/ subsidy received under sales tax scheme, granted by the State Government under both the 1979 as well as 1983 Schemes, is capital receipt and hence not chargeable to tax.
Facts- The issue involved in the present appeal is that whether an incentive received in sales tax liability under a Scheme formulated by the State Government would be on capital account, exempt to taxation, or on revenue account, liable for taxation.
Conclusion- The incentives/subsidy granted by the State Government under both the 1979 as we...
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