Deduction u/s 80IB on Central Excise Duty refund - receipt of ...

Income Tax

June 13, 2023

Deduction u/s 80IB on Central Excise Duty refund - receipt of the subsidy was capital in nature as the assessee was obliged to utilize the subsidy only for repayment of term loans undertaken by the assessee for setting up new units/expansion of existing business. - In factual matrix the capital subsidy as capital receipt cannot be the part of the calculation of deduction U/s 80IB of the Act. - AT

View Source

← Previous Next →

Deduction u/s 80IB on Central Excise Duty refund - receipt of ...

Income Tax

June 13, 2023

You may also like:

Deduction u/s 80 IB - Central Excise Duty refund & interest subsidy - held as Capital receipt - AT

Capital or revenue receipt - incentives - excise duty refund, interest subsidy and insurance subsidy held as capital receipts .... – HC

Allowability of excise duty refund u/s 80IB - There is an inextricable link between the manufacturing activity, the payment of central excise duty and its refund -...

Claim of deduction u/s 80IB - There is inextricable link between the manufacturing activity, payment of Central Excise Duty and its refund. - deduction allowed.

Nature of Central Excise Duty Refund - refund under the sheme of the Union Government with regard to North Eastern State - the said receipts are capital receipts - AT

Excise Duty Refund - Revenue receipt or capital receipt - the excise duty refund received is in the nature of capital receipt and is not exigible to the tax - HC

Excise duty refund - revenue or capital income - eligibility for deduction u/s 80IB - subsidy received by way of refund of excise duty for setting up new industrial...

Revenue or capital receipt - The HC has held that, Excise duty refund, Interest subsidy and Insurance subsidy received with the object of creating avenues for perpetual...

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

Capital Receipt vs Revenue Receipt - Excise Duty refund is to be treated as ‘capital receipt’ in the hands of the assessee and not liable to be taxed - AT

Quick Updates: