Punjab General Sales Tax (Deferment and Exemption) Rules, 1991 (for short, `the 1991 Rules') submitted that admittedly the sales tax subsidy was available ... Refund of sales tax on purchase of raw materials
during the year 1971-72 390.79
(iii) Refund of sales tax paid on sale of finished
deleting
the addition of Rs. 1,84,45,151/- holding the sales tax
subsidy as capital receipt in nature.
ii) Whether on the facts ... case
Ponni Sugar and Chemicals Ltd. and treating the sales
tax subsidy as capital receipts in nature was wrongly
followed despite the observation
confirming the
action of assessing officer for taxing the capital receipt on account of Sales Tax
Exemption/Subsidy amounting ... above the Ld. CIT(A) has erred in
law and on the facts in excluding Sales Tax Subsidy amounting
CIT(A)
erred in allowing the assessee's claim of sales tax subsidy amounting to
Rs.1,51,85,22,523/- treating the same ... sales tax on raw materials, machinery and finished
goods were also of capital nature as the object of granting refund
of sales tax was that
held, except for
Rajasthan and Himachal Pradesh Government's sales tax subsidy scheme, all other schemes
categorically state the object and purpose as promotion ... sales tax on raw materials, machinery and finished goods were also of capital
nature as the object of granting refund of sales tax was that
order that Sales Tax
exemption availed was held to be capital receipt. Following this
decision, we direct that the Sales Tax incentive/subsidy relating ... CIT(A) for adjudication in light of
conclusion to be derived by the CIT(A) as to the nature of Sales Tax
Subsidy.
(Additional Ground
confirming the
action of assessing officer for taxing the capital receipt on account of Sales Tax
Exemption/Subsidy amounting ... above the Ld. CIT(A) has erred in
law and on the facts in excluding Sales Tax Subsidy amounting
80HHC of Income Tax Act.
12. The Ld. CIT (A) has erred in law and on facts in excluding sale tax
subsidy amounting ... confirming the act of the A.O. taxing the
sales tax subsidy/exemption received by the assessee from the
Government of Punjab as income from
That the learned CIT(A)-1, Ludhiana, has erred in confirming the order of the AO
in respect of sale tax subsidy by wrongly treating ... That the learned CIT(A)-1, Ludhiana, has erred in confirming the order of the AO
in respect of sale tax subsidy by wrongly treating
receiving
sales tax incentive and sales of electricity ignoring the fact that, the
sales tax incentive is outcome of Govt. orders and not sales ... supra) was with
respect to transport subsidy, power subsidy, interest subsidy and
insurance subsidy. The issue whether sales tax subsidy reduced the cost
of production
