Income Tax Treatment of Excise Duty Exemptions: Greenply Industries Case

PCIT Vs Greenply Industries Ltd (Gauhati High Court)

The Gauhati High Court’s recent judgment in “The Principal Commissioner of Income Tax v. M/s GreenPly Industries Ltd.” provides valuable clarification on the characterization and resultant tax treatment of excise duty exemptions. The court’s decision, delivered on March 4, 2025, addresses two crucial questions: whether excise duty exemptions granted under the Industrial development schemes should be treated as capital or revenue receipts, and whether such exemptions should be included in the computation of

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