Incentives received under Incentive Scheme are capital receipts hence not taxable

Jindal Saw Ltd. Vs DCIT (ITAT Delhi)

ITAT Delhi held that incentives in the form of excise duty refund, sales tax remission, sales/ VAT input tax refund received under the Incentive Scheme are capital receipts and hence not chargeable to income tax. Accordingly, ground of the assessee allowed.

Facts- The assessee company is engaged in the business of manufacturing various types of pipes. The assessee are challenging the action of CIT(A) in dismissing the assessee’s additional ground raised before CIT(A) seeking direction to AO to treat the excise duty ref

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