Power incentive by West Bengal Government is capital receipts

Jindal (India) Ltd. Vs ACIT (ITAT Delhi)

ITAT Delhi held that power incentive granted by the Government of West Bengal is actually given for sole intention of setting up new industry and attractive private investment and hence the same is capital receipts and not chargeable to tax.

Facts-

During the course of the scrutiny assessment proceedings assessee filed a revised computation of income wherein it claimed deduction of the amount of incentive of sales tax paid an

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