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2014 (1) TMI 1029 - AT - Income TaxTaxability of sales tax benefit/subsidy received - Capital or revenue in nature - Held that:- the assessee has sold its benefits/entitlements to the third parties - What the assessee has received is consideration in respect of sale of the entitlement/benefits - This is nothing but consideration for the transfer of the entitlement and clearly taxable as revenue receipt in the nature of benefit convertible into money arising from business - On perusal of the agreement to transfer sales tax incentive - Sale consideration on transfer of entitlement is nothing but is a benefit directly arising from business and, is therefore, a revenue receipt - Decided against the assessee.
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