TMI Blog2017 (12) TMI 475X X X X Extracts X X X X X X X X Extracts X X X X ..... e Petitioner received the said subsidy also formed the subject matter of appeal filed by Johnson Matthey India (P) Limited [2014 (8) TMI 800 - ITAT DELHI] referring to the decision of the Supreme Court in CIT v. Ponni Sugars and Chemicals Limited [2008 (9) TMI 14 - SUPREME COURT] held that the sales tax subsidy received by the Petitioner will be treated as a capital receipt and not be added to th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Act for the Assessment Years ( AYs ) 2007-08 to 201011 whereby the Assessee sought revision of the assessment orders passed by the Assessing Officer (AO) for the aforementioned AYs under Section 143 (3) on the issue of sales tax subsidy. 2. The AO had, in the aforementioned assessment orders, added back the sales tax subsidy received by the Assessee as a revenue receipt thereby rejecting its p ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . [2015] 373 ITR 14 (Del). Further the decision of this Court in CIT v. Bhushan Steel and Strips Ltd. [2017] 398 ITR 216 (Del), which has been relied upon by the Revenue, is in appeal before the Supreme Court in S.L.P.(C) No. 30728-30732 of 2017 and has been stayed by that Court. 5. In that view of the matter, the impugned order dated 30th March 2015 of the Pr CIT dismissing the Petit ..... X X X X Extracts X X X X X X X X Extracts X X X X
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