TMI BlogSubsidy or incentive - purpose tests for grant of subsidy/incentive - incentives received in the form of...Subsidy or incentive - purpose tests for grant of subsidy/incentive - incentives received in the form of Sales Tax and Central Excise benefit - revenue or capital receipt - If on facts it was proved that subsidy was granted under schemes framed by the State and the Central Government, to set up new industry in Kutch District or to encourage investment which would in turn, provide fresh employment opportunity in the district which had suffered due to devastating earthquake then applying purpose test it would in capital nature. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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