Sales Tax subsidy for expansion of assessee’s existing industry was capital income

DCIT Vs Emami Agrotech Limited (ITAT Kolkata) Conclusion: Sales Tax subsidy received for expansion of assessee’s existing industry was capital in nature as the purpose of the same was for the expansion of the existing industry of assessee. Moreover, the amounts which were not taxable in the normal computation could not be included while computing the book profit because such amounts did not really reflect a receipt in the nature of income and could not form part of the book profit. Held: Assessee had obtained incentive in the form of Sales Tax assistance in A. Y. 2013-14 as Industrial Promot...