2017 (10) TMI 1345 - HC - Income Tax

The following question of law arises for consideration - Whether in the facts and circumstances, the ITAT was correct in holding that amounts received as incentive from Engine Manufacturers by the assessee were capital in nature? So far as second question is concerned, the Court notes that an identical issue was decided by another Division Bench by this Court in CIT v. Jetlite India Ltd. 2015 (11) TMI 304 - DELHI HIGH COURT . Therefore, the said question does not arise.

Summary

The High Court of Delhi allowed condonation of delay in re-filing for ITA 914/2017 and ITA 916/2017. The main question was whether amounts received as incentives were capital in nature. The appeal will be heard along with ITA 119/2017. Another Division Bench had already decided a similar issue in CIT v. Jetlite India Ltd. 379 ITR 185, so that question did not arise.