TMI Blog2018 (12) TMI 1869X X X X Extracts X X X X X X X X Extracts X X X X ..... received by the assessee under PSI, 2007 Scheme in the form of refund of sales tax was capital receipt and not liable to tax. The said ratio laid down by the Tribunal is squarely applicable to the facts and issues raised in the present case also, since the subsidy by way of refund of sales tax has been received by the assessee under the said scheme itself. We are referring to the order of Tribunal ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... essee has raised the following grounds of appeal:- In the facts and circumstances of the case and in law, the learned Commissioner of Income Tax (Appeals) 1, Pune, erred in 1) In respect of Industrial Promotion subsidy by way of refund of Sales Tax paid of ₹ 305,872,755/- a. in treating subsidy received under the Mega Project under Package scheme of Incentives, 2007 as chargeab ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... service of notice, none appeared on behalf of the assessee nor any application was filed for adjournment. 4. The learned Departmental Representative for the Revenue fairly pointed out that similar issue has been decided by the Pune Bench of Tribunal in assessee s own case relating to assessment years 2009-10 and 2010-11. 5. The issue which arises in the present appeal is in respect of Indus ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... assessment year 2010-11, wherein vide consolidated order dated 24.03.2017, the Tribunal has elaborately considered the scheme under which the assessee was given the said subsidy and has observed that the said incentive received by the assessee under PSI, 2007 Scheme in the form of refund of sales tax was capital receipt and not liable to tax. The said ratio laid down by the Tribunal is squarely ap ..... X X X X Extracts X X X X X X X X Extracts X X X X
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