2018 (8) TMI 2138 - SCH - Income Tax

Nature of receipts - Amount received by way of exemption of sales tax payments - trading receipt OR capital receipt hence not liable to tax? - As decided by HC 2017 (7) TMI 501 - DELHI HIGH COURT subsidy was revenue in nature - Depreciation claim by lessee is allowed HELD THAT - Leave granted. Hearing expedited. Stay to continue.

Summary

The Supreme Court of India granted leave, expedited the hearing, and allowed the stay to continue in the case of SLP (civil) Nos. 18572 of 2018 and 18575 of 2018. Hon'ble Mr. Justice Rohinton Fali Nariman and Hon'ble Ms. Justice Indu Malhotra presided over the case. Key representatives included Mr. Ajay Vohra, Sr. Adv., Ms. Kavita Jha, AOR, Mr. Aman Lekhi, ASG, Ms. Vimla Sinha, Adv., Mr. A.K. Srivastava, Adv., Mrs. Anil Katiyar, AOR for the Petitioner, and Mr. Mayank Nagi, Adv., Mr. Shekhar Prit Jha