Incentive under Rajasthan Investment Promotion Scheme 2010 is Capital Receipt, Not Taxable: ITAT [Read Order]

Incentive - Rajasthan Investment Promotion Scheme 2010 - Capital Receipt - ITAT - Income Tax - Investment Promotion Scheme - Rajasthan Investment Promotion Scheme - taxscan

The Pune bench of Income Tax Appellate Tribunal (ITAT) recently held that Incentive under Rajasthan investment promotion scheme 2010 is capital receipt therefore it was not taxable. The aforesaid order was issued for assessee Jain Irrigation Systems Ltd. Who filed the appeal against the order of Commissioner of Income Tax (Appeal). Percy Pardiwala counsel for…

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