TMI Blog2013 (12) TMI 536X X X X Extracts X X X X X X X X Extracts X X X X ..... xed – Decided against Revenue. - I.T.A. No.453, 454 & 455(Asr)/2012 - - - Dated:- 11-2-2013 - H. S. Sidhu And B. P. Jain,JJ. For the Appellant : Sh. Tarsem Lal, DR For the Respondent : Sh. Sameer Aggarwal, CA ORDER The Revenue has filed these three appeals against separate orders of CIT(A), Amritsar, each dated 12.10.2012 relating to assessment years 2003- 04, 2004-05 2005 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ch the same was paid envisaged tackling the unemployment in the State which cannot be said to be a good test for deciding whether a receipt is a trading receipt or a capital receipt. 2. Whether on the facts and circumstances of the case the Ld. CIT(A), Amritsar was right in not appreciating the judgments of Hon'ble Supreme Court of India in the case of Ponni Sugar Sawhney Steel and press works ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e of assessee, the money received by the assessee on account of refund of Central Excise was not supposed to be spent in a particular manner for purpose of substantial expansion of the industry. 5. The appellant craves leave to amend or add any one or more grounds of appeal." 2. At the time of both the Ld. DR and Ld. counsel for the assessee fairly conceded that the issues involved in these ap ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... by the decision of the Hon'ble Jurisdictional High Court of Jammu Kashmir in the case of Shree Balaji Alloys v. CIT and Another, reported in (2011) 333 ITR 335 (J K) by holding that the Excise Duty refund Interest Subsidy are to be treated as 'capital receipts' and are not liable to be taxed. 2.1. The Ld. first appellate authority has also decided both the issues in favour of the assessee by ..... X X X X Extracts X X X X X X X X Extracts X X X X
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