On appeal by the revenue ,High Court admitted the following question of law “ Whether on the facts and circumstances of the case and in law ,the Tribunal was right in holding that notional sales- tax of Rs , 12, 52, 83, 84, 360 is capital in nature and not liable to tax . ( AY. 2003 -04 to 2006 -07)
CIT v. Reliance Industries Ltd ( 2018) 161 DTR 420 /( 2019) 410 ITR 468 ( Bom) (HC)
S. 4 : Charge of income-tax – Capital or revenue- Notional sales tax – Question of law [ S. 260A ]