Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights September 2012 Year 2012 This

Valuation of closing stock of incentive sugar (free sugar) - One ...


Valuation of Incentive Sugar Stock Must Not Convert Capital Receipt to Revenue Income in Tax Cases.

September 29, 2012

Case Laws     Income Tax     SC

Valuation of closing stock of incentive sugar (free sugar) - One cannot have a stock valuation which converts a capital receipt into revenue income - SC

View Source

 


 

You may also like:

  1. Computation of capital gain - conversion of Gold in stock in trade and income from other sources - assessee converted the gold into stock in trade on various dates and...

  2. Revenue or capital receipt - sales tax subsidy/incentive under the Package Scheme of Incentives Scheme, 1993 - The High Court held that the sales tax subsidy/incentive...

  3. 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,...

  4. Nature of receipt - sales tax remission benefit derived by the assessee - All the judgments cited before us also lay down the same ratio. Even otherwise subsidy is...

  5. Correct head of income - income earned out of sale of property - business income or capital gains - when the asset was converted into stock-in-trade - the assessee has...

  6. VAT subsidy - Characterization of receipts - taxability of receipts - The refund now VAT as given to the industrial undertakings only for the purpose of fulfilling the...

  7. Nature of sales tax incentive - revenue receipt OR Capital subsidy - the incentive received by the assessee under the PSI, 2007 scheme in the form of refund of sales tax...

  8. Taxability of Cash compensation received – capital receipt vs Revenue receipt - Capital receipt in principle is outside the scope of income chargeable to tax. .... - AT

  9. Shares converted into stock-in-trade - Valuation adopted for conversion of investments to stock-in-trade, opening stock and closing stock - where an assessee converts...

  10. Chargeability to income-tax of incentives by way of refund of Excise Duty and Exemption of Sales Tax - nature of receipt - not taxable - Since the same is as capital receipt.

  11. The Calcutta High Court addressed the nature of a sales tax incentive received under the "West Bengal Incentive Scheme, 2000" for industrial promotion. The scheme aimed...

  12. Capital receipt or revenue receipt - receipt of compensation under JV agreement - surrender of certain rights - there as no impairment of source of income - taxable as...

  13. Capital or revenue receipt - incentives - excise duty refund, interest subsidy and insurance subsidy held as capital receipts .... – HC

  14. Nature of Sales tax incentive received - Revenue receipt OR capital receipt - notwithstanding that the assessee has treated such incentive as revenue receipt in past,...

  15. Competition Commission of India (Determination of Turnover or Income) Regulations, 2024 - (1) Turnover or income for enterprises includes the value of sales, revenue, or...

 

Quick Updates:Latest Updates