Held that the sales tax incentive received from the State Government under the West Bengal Industrial Promotion (Assistance co Industrial Units) Scheme, 2010 is a capital receipt. The Tribunal has the power to entertain a claim of deduction not claimed before the Assessing Officer by filing a revised return.(AY. 2015-16)
PCIT v. Ritum Jain. (2025) 476 ITR 69 (Cal)(HC)
S. 4 : Charge of income-tax-Income or capital-Sales tax incentive received from State Government under West Bengal Industrial Promotion Scheme-Capital receipt-Appellate Tribunal-Power-The Tribunal has the power to entertain a claim of deduction not claimed before the Assessing Officer by filing revised return. [S. 139,254(1)]
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