Nature of receipt - sales tax subsidy - revenue or capital receipt - The ITAT has committed a manifest...

Nature of receipt - sales tax subsidy - revenue or capital receipt - The ITAT has committed a manifest error law - The receipts have been shown by the respondent/assessee as sale price received by him from the purchasers. Once the amount has been received as sale price, no part of it could be termed as capital receipts. - HC .....

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