Nature of Subsidy - The predominant purpose of the scheme is to ...

Income Tax

January 22, 2016

Nature of Subsidy - The predominant purpose of the scheme is to ensure that tea manufactures function more profitably and not for setting up of a new unit or expansion of the existing unit. - the subsidy in question is revenue subsidy and was rightly brought to tax - AT

View Source

← Previous Next →

Nature of Subsidy - The predominant purpose of the scheme is to ...

Income Tax

January 22, 2016

You may also like:

Revenue or capital receipt - sales tax subsidy/incentive under the Package Scheme of Incentives Scheme, 1993 - The High Court held that the sales tax subsidy/incentive...

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...

Process amounting to manufacture - blending and packing of tea - after the processing tea remained tea - mere mixing of different types of tea only for the purpose of...

Audit Objections – relevance in making re-assessments - The function of the audit is essentially executive in nature, while the function of the assessing officer and his...

Nature of receipt under the subsidy scheme - Multiplex Theatre Complexes - exemption of entertainment duty - the receipt is in the nature of capital receive - not taxable - SC

Nature of income - Subsidy received under the Industrial Promotion Policy of the Assam Government - the VAT subsidy received by it for undertaking substantial expansion...

Deduction u/s 80IB and 80IC - Transport subsidy - Power subsidy - Interest subsidy - Insurance subsidy - are operational in nature - related to the production -...

Registration under Section 12AA declined - The purpose to provide education to the children would fall very much within the charitable purpose and predominant purpose of...

Registration under section 12A – If the primary purpose and the predominant object are to promote the welfare of the general public the purpose would be a charitable purpose - AT

Nature of incentive subsidy - Capital or revenue receipt - subsidy on the purchase of generator set - the same is capital subsidy and should go on to reduce the cost of asset - AT

Substitution of estimated amount payable as mentioned in forms SVLDRS-2 and SVLDRS-3 with the tax dues less tax relief amounts - Having regard to the objective of the...

VAT subsidy - Characterization of receipts - taxability of receipts - The refund now VAT as given to the industrial undertakings only for the purpose of fulfilling the...

Valuation - inclusion of subsidy in the assessable value - The nature of Scheme in the present Appeals are entirely different as ‘Subsidy’ and not ‘remission’ has been...

MAT computation u/s 115JB - assessee has received excise refund and interest subsidy which have been claimed as capital receipts - But since a receipt is not in the...

Classification of imported goods - Tablet PC or mobile telephone - voice communication is secondary function to the Tablet functions. When the importer themselves hold...

Quick Updates: