Supreme Court clarifies Capital Receipt vs. Revenue Receipt for Incentive Subsidy under Income Tax Act: Commissioner of Income Tax vs. Ponni Sugars & Chemicals Ltd. (2008)

/ B. Sudershan Reddy, Income Tax Act, 1961, Income Tax Act, 1961 with Section 80P(2)(a)(i), Judges, S.H. Kapadia

Date of the Judgment: September 16, 2008 Citation: Commissioner of Income Tax, Madras v. Ponni Sugars & Chemicals Ltd., Civil Appeal No. 5694 of 2008 (arising out of S.L.P. (C) No. 7926/04) Judges: S.H. Kapadia, J., B. Sudershan Reddy, J. Are incentive subsidies received by businesses capital receipts or revenue receipts for income tax purposes? […]

Supreme Court clarifies Capital Receipt vs. Revenue Receipt for Incentive Subsidy under Income Tax Act: Commissioner of Income Tax vs. Ponni Sugars & Chemicals Ltd. (2008) Read Post »