Held that the assessee-company received sales tax remission under West Bengal Incentive Scheme for expansion of its unit in a backward area, remission being linked to fixed capital investment, such remission was capital in nature. (AY. 2001-02)
Graphite India Ltd. v. CIT (2026) 310 Taxman 543 (Cal)(HC)
S. 4: Charge of income-tax-Income-Sales tax incentive/remission received under a State incentive scheme constituted a capital receipt not chargeable to tax. [S. 2(24)]
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