The subsidy received as Excise Duty reimbursement from the State ...

Excise Duty Reimbursement in Bihar Classified as Capital Receipt, Excluded from Book Profits u/s 115J.

January 17, 2017

Case Laws Income Tax HC

The subsidy received as Excise Duty reimbursement from the State of Bihar was in the nature of capital receipt. Hence the same cannot be added to arrive at book profits u/s 115J - HC

View Source

← Previous Next →

The subsidy received as Excise Duty reimbursement from the State ...

Excise Duty Reimbursement in Bihar Classified as Capital Receipt, Excluded from Book Profits u/s 115J.

January 17, 2017

Case Laws Income Tax HC

You may also like:

MAT computation u/s 115JB - Disallowing exclusion of Excise Duty Exemption as capital receipt availed during the year under consideration in computing book profit as per...

MAT computation u/s 115JB - Adjustments to book profit - excise duty exemptions as capital receipt - the alleged sum of excise duty exemption is a capital receipt not...

Excise Duty Refund - Revenue receipt or capital receipt - the excise duty refund received is in the nature of capital receipt and is not exigible to the tax - HC

Deduction u/s 80 IB - Central Excise Duty refund & interest subsidy - held as Capital receipt - AT

ITAT determined that excise duty refund received under Notification No.39/2001 Central Excise, issued as part of earthquake relief incentive scheme for Kutch District,...

Capital subsidy received by assessee for setting up new industry, by way of refund of sales tax/excise duty, is a capital receipt not includible in book profits for MAT...

Computation of book profit u/s 115JB - MAT - refund claim of excise duty (CENVAT) being a capital receipt - The Tribunal allowed the claim, recognizing the refund as a...

Revision u/s 263 by CIT - slum sale - The assessee has transferred the whole business under slump sale basis and it is fact on record that it is transferred the business...

MAT computation u/s 115JB - assessee has received excise refund and interest subsidy which have been claimed as capital receipts - But since a receipt is not in the...

Capital Receipt vs Revenue Receipt - Excise Duty refund is to be treated as ‘capital receipt’ in the hands of the assessee and not liable to be taxed - AT

Revenue or capital receipt - The HC has held that, Excise duty refund, Interest subsidy and Insurance subsidy received with the object of creating avenues for perpetual...

Excise duty & Sales Tax to be excluded from turnover for computing deduction u/s 80HHE - AT

MAT - Sales Tax Subsidy - Capital or Revenue Receipt - Capital receipt in the form of Sales Tax incentive needs to be excluded from profit as per P&L Account for the...

MAT computation - share of profit from the partnership firm was sought to be excluded while computing the book profits u/s.115JB by treating it as capital receipt - the...

Computation of book profit u/s 115JB - MAT - The carbon credit is credited to the Profit & Loss account held to be capital receipts and not exigible to tax - AO directed...

Quick Updates: