Sales tax incentive received as a capital receipt is excluded from normal income and Section 115JB book profits.
Sales tax incentive received as a capital receipt is excluded from normal income and Section 115JB book profits. Issue Whether a recurring sales tax incentive/subsidy received by the assessee constitutes a non-taxable capital receipt that must be excluded from both the regular income computation under Section 28(i) and the book profit computation under Section 115JB.… Read More »