Tag Archives: Commissioner of Income-tax v. Bhushan Steels & Strips Ltd.

Sales tax subsidy is revenue receipt if can be used for any purpose

By | July 15, 2017

Q : Whether the amount received by the assessee by way of exemption of sales tax payments was  a trading receipt and not a capital receipt, hence  liable to tax ? Held , Yes HIGH COURT OF DELHI Commissioner of Income-tax v. Bhushan Steels & Strips Ltd. S. RAVINDRA BHAT AND NAJMI WAZIRI, JJ. IT APPEAL NOS.… Read More »