Relief to Ambuja Cement: ITAT directs AO to exclude Sales Tax Incentive Subsidy for Computing Book Profit [Read Order]

Ambuja - Cement - ITAT - AO - Sales - Tax - Incentive - Subsidy - Book - Profit - TAXSCAN

The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT), directed Assessing Officer (AO) to exclude sales tax incentive subsidy for computing book profit, thereby granting relief to Ambuja Cement Limited, the appellant. The issue concerned in the present appeal is whether, on the facts and in the circumstances of the case and in law,…

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