{"id":38799,"date":"2024-02-02T11:55:39","date_gmt":"2024-02-02T06:25:39","guid":{"rendered":"https:\/\/itatonline.org\/digest\/cit-v-gujarat-alkalies-and-chemicals-ltd-2023-454-itr-808-sc-editorial-cit-v-gujarat-alkalies-and-chemicals-ltd-2015-372-itr-237-gujhc-affirmed-cit-v-indian-petrochemicals-corporatio\/"},"modified":"2024-02-02T11:55:39","modified_gmt":"2024-02-02T06:25:39","slug":"cit-v-gujarat-alkalies-and-chemicals-ltd-2023-454-itr-808-sc-editorial-cit-v-gujarat-alkalies-and-chemicals-ltd-2015-372-itr-237-gujhc-affirmed-cit-v-indian-petrochemicals-corporatio","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/cit-v-gujarat-alkalies-and-chemicals-ltd-2023-454-itr-808-sc-editorial-cit-v-gujarat-alkalies-and-chemicals-ltd-2015-372-itr-237-gujhc-affirmed-cit-v-indian-petrochemicals-corporatio\/","title":{"rendered":"CIT v. Gujarat Alkalies and Chemicals Ltd. (2023) 454 ITR 808 (SC) Editorial : CIT v. Gujarat Alkalies and Chemicals Ltd (2015) 372 ITR 237 (Guj)(HC), affirmed. CIT v. Indian Petrochemicals Corporation Ltd (2017) 10 ITR-OL 275 (Guj)(HC), affirmed."},"content":{"rendered":"<p>Dismissing the SLP of the Revenue the Court held that Tribunal was right in holding that sales tax exemption granted by the Government of Gujarat was a capital receipt exempt from tax instead of a revenue receipt as held by the Assessing Officer. High Court affirmed the order of the Tribunal. (AY. 1999-2000, 2000-01)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 4 : Charge of income-tax-Capital or revenue-Sales tax exemption-Scheme requiring recipient of  benefit to utilise substantial portion of  subsidy for capital purposes-Capital receipt. [S. 28(i)] <\/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-38799","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-a5N","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/38799","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=38799"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/38799\/revisions"}],"predecessor-version":[{"id":38800,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/38799\/revisions\/38800"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=38799"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=38799"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=38799"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}