Excise Duty Subsidy / Excise Rollback is a Capital Receipt, not Taxable: ITAT [Read Order]

Excise Duty Subsidy - Rollback - Capital Receipt - Taxable - ITAT - Taxscan

The Income Tax Appellate Tribunal, Delhi, has held that excise duty subsidy/ excise rollback is a capital receipt, not taxable. The assessee, M/s. Modern Papers is a proprietorship firm engaged in the business of manufacturing etc. of all types of agrochemicals. The assessee received a subsidy on account of excise duty refund (excise rollback) in…

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