Sale Tax Incentive Subsidy and Excise Duty Incentive are Capital Receipt, not chargeable to Tax: ITAT [Read Order]

Sale tax incentive subsidy - excise duty - capital receipt - ITAT - TAXSCAN

The sale tax incentive subsidy and excise duty incentive are capital receipt and not chargeable to tax, was ruled by the Delhi bench of the Income Tax Appellate Tribunal (ITAT). The assessee, Genus Electrotech Limited filed its return of income declaring loss of Rs.18,80,00,836. The order u/s 250 of the Act was passed on 10.12.2013…

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