Held that payment made premature payment of deferred sales tax at present value of certain amount against total liability and credited balance amount to its capital reserve account, said credited amount is a capital receipt not a revenue receipt. (AY. 2005-06)
Piramal Enterprises Ltd. v. DCIT (2024) 205 ITD 636 (Mum.)(Trib.)
S. 4 : Charge of income-tax-Capital or revenue-Premature payment of deferred sales tax at present value of certain amount against total liability and credited balance amount to its capital reserve account-Amount credited amount is a capital receipt. [S. 28(i)
Leave a Reply