VAT reimbursement: Whether capital receipt or revenue receipt?

PCIT Vs Deepak Vegpro (P) Ltd. (Rajasthan High Court)

Finance Act, 2015 with effect from 1-4-2016, has enlarged the definition of income given under section 2 (24) by inserting sub-clause (xviii), which reads as under :–

(xviii) assistance in the form of a subsidy or grant or cash incentive or duty drawback or waiver or concession or reimbursement (by whatever name called) by the Central Government or a State Government or any authority or body or agency in cash or kind to the assessee other than the subsidy

Please become a Premium member. If you are already a Premium member, login here to access the full content.