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Sunbeam Auto Private Limited Versus Pr. Commissioner of Income Tax

2017 (12) TMI 475 - DELHI HIGH COURT

Application under Section 264 - treatment to sales tax subsidy - AO had added back the sales tax subsidy received by the Assessee as a revenue receipt thereby rejecting its plea that it had to be treated as a capital receipt - Held that:- The scheme .....

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ls 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 the income of the Petitioner. - Thus he impugned order of the Pr CIT dismissing the P .....

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t A. Maheshwari, Advocates. Respondent Through: Mr. Ruchir Bhatia, Senior standing counsel. JUDGMENT Dr. S. Muralidhar, J.: 1. These four writ petitions are by Sunbeam Auto Private Limited seeking inter alia the quashing of an order dated 30th March .....

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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 sale .....

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y Johnson Matthey India (P) Limited being ITA No.952/Del/2011 before the ITAT for AY 2006-07. The ITAT, by its order dated 12th August 2014, upheld the Assessee s contention that the sales tax subsidy was a capital receipt. 4. Against the aforementio .....

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als Limited [2008] 306 ITR 392 (SC) and this Court s decision in CIT v. Bougainvillea Multiplex Entertainment Centre Pvt. Ltd. [2015] 373 ITR 14 (Del). Further the decision of this Court in CIT v. Bhushan Steel and Strips Ltd. [2017] 398 ITR 216 (Del .....

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