Relief to Jindal India: ITAT treats Incentives under West Bengal Incentives Scheme as ‘Capital Receipts’, not Taxable [Read Order]

Jindal India - ITAT - Incentives - West Bengal Incentives Scheme - Capital Receipts - Taxable - ITAT treats Incentives - Taxscan

The Income Tax Appellate Tribunal ( ITAT ), New Delhi Bench granted relief to M/s. Jindal (India) Ltd, the appellant by holding that incentives paid under West Bengal Incentives Scheme are to be treated as ‘capital receipts’ and hence not taxable. The state of West Bengal decided to introduce the West Bengal Incentive Scheme 2000…

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