TMI Blog2002 (7) TMI 32X X X X Extracts X X X X X X X X Extracts X X X X ..... of the aforesaid legislative amendment with retrospective effect, there can be no scope for any controversy and it has to be held that the export cash assistance received by the assessee was a revenue receipt. - In view of the above discussion, our answer to the question is in the negative, i.e., in favour of the Revenue and against the assessee. - - - - - Dated:- 3-7-2002 - Judge(s) : M. S. SH ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the amount of export cash assistance received by the assessee was a revenue receipt and, therefore, liable to be taxed. Clause (iiib) of section 28 inserted with retrospective effect from April 1, 1967, reads as under: "28. The following income shall be chargeable to income-tax under the head 'Profits and gains of business or profession",-...... (iiib) cash assistance (by whatever name call ..... X X X X Extracts X X X X X X X X Extracts X X X X
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