{"id":38189,"date":"2023-12-28T14:20:32","date_gmt":"2023-12-28T08:50:32","guid":{"rendered":"https:\/\/itatonline.org\/digest\/cit-v-itc-bhadrachalam-paper-boards-ltd-2023-293-taxman-59-cal-hc\/"},"modified":"2023-12-28T14:20:32","modified_gmt":"2023-12-28T08:50:32","slug":"cit-v-itc-bhadrachalam-paper-boards-ltd-2023-293-taxman-59-cal-hc","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/cit-v-itc-bhadrachalam-paper-boards-ltd-2023-293-taxman-59-cal-hc\/","title":{"rendered":"CIT v. ITC Bhadrachalam Paper Boards Ltd. (2023) 293 Taxman 59 (Cal.)(HC)"},"content":{"rendered":"<p>The Assessing Officer held that sales tax subsidy is revenue receipt. Order of Assessing Officer was affirmed by the CIT(A). On appeal the Tribunal held that the receipt was capital receipt.\u00a0\u00a0 On appeal the Court held that\u00a0 the assessee would not be entitled to subsidy and ordered assessee to refund amount. Assessee claimed deduction with respect to said refund for assessment year 2002-03. Court held that since\u00a0 issue attained finality and Tribunal granted it relief for assessment year 2002-03, order passed by Tribunal for relevant assessment year was not required to be given effect and order passed by Commissioner (Appeals) was\u00a0 restored. (AY. 1993-94)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 4 : Charge of income-tax \u2013 Sales tax subsidy \u2013 Issue attained finality in  assessment year 2002 -03 &#8211; Order passed by Tribunal for relevant assessment year was not required to be given effect and order passed by Commissioner (Appeals) was  restored. [S. 250]  <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-38189","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-9VX","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/38189","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=38189"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/38189\/revisions"}],"predecessor-version":[{"id":38190,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/38189\/revisions\/38190"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=38189"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=38189"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=38189"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}