2001 (10) TMI 1121 - HC - VAT and Sales Tax

Summary

The High Court of Madras ruled that subsidies received by a fertiliser manufacturer under a government scheme are not includible in the taxable turnover. The court referred to a Supreme Court decision in Neyveli Lignite Corporation Ltd. v. Commercial Tax Officer, Cuddalore. The assessment orders treating the subsidies as turnover were set aside, and the tax levied was to be refunded to the assessee.