Posted inNews
Bombay High Court Holds Sales Tax Incentives for Industries in Backward Areas as Capital Receipts Not Taxable, Clarifies “Purpose Test” Over Form, Enabling Industries to Claim Exemption for Setting Up New Units
Court’s Decision The Bombay High Court (Nagpur Bench) held that sales tax incentives provided under Maharashtra Government’s industrial promotion schemes for setting up units in backward areas are capital receipts…
