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2015 (10) TMI 2764 - AT - Income TaxAccrual of income - sales tax subsidy - AO treating the same as revenue receipt taxed it under the head ‘income from other sources’ - HELD THAT:- The assesses have received sales tax subsidy from Punjab Government under the scheme named, ‘Industrial Policy & Incentive Code, 1996’. We have gone through the said policy and found that the scheme though not verbatim as that of West Bengal or Gujarat schemes, but the sum and substance of all these schemes are the same, therefore, relying on our finding given in the case of Bhushan Limited [2015 (6) TMI 1195 - ITAT CHANDIGARH] we hold that the sales tax subsidy received by the assessee is capital in nature.
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