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2017 (12) TMI 477 - SCH - Income TaxAmount received by way of exemption of sales tax payments - trading receipt OR capital receipt hence not liable to tax? - HC 2017 (7) TMI 501 - DELHI HIGH COURT held that the absence of any condition towards capital utilization meant that the policy makers envisioned greater profitability as an incentive for investors to expand units, for rapid industrialization of the state, ensuring greater employment. Clearly, the subsidy was revenue in nature - Held that - Issue notice. In the meantime, the operation of the impugned judgment shall remain stayed.
The Supreme Court of India issued an order in 2017 (12) TMI 477 - SC, with Justices Arun Mishra and Rohinton Fali Nariman presiding. The petitioner was represented by Mr. Ajay Vohra, Ms. Kavita Jha, and Mr. Bhawan Dhoopar. The court issued notice and stayed the operation of the impugned judgment.
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