Supreme Court · 1997 INSC 664 · Decided 19 September 1997
M/S. Sahney Steel and Press Works LTD., Hyderabad Etc, ETC. v. Commissioner of Income Tax, Andhra Pradesh-I, Hyderabad
- Court
- Supreme Court of India
- Citation
- 1997 INSC 664 · [1997] SUPP. 4 S.C.R. 189
- Case number
- CIVIL APPEAL No. 2193/1985
- Decided
- 19 September 1997
- Bench
- S.C. SEN, D.P. WADHWA (2-judge bench)
- Outcome
- Disposed off
- Case type
- Civil
- Acts & sections cited
- Income Tax Act Section 28, 41
Headnote
A B Income Tax Act, 1961-Sections 28, 41-Subsidy-Whether taxable- C Determination of nature-Subsidy granted by State Government for jive years from the date of co_mmencement of production-All incentives are production incentives, to be given only after start of production-Held, object of subsidy manner or source of payment--,-lncentives like sales tax refand, electricity charges were intended to enable the assessee to run business more profitably and not for the purpose of selling the business-Hence, the D subsidies are operational subsidies and not capital subsidies and are of revenue
Judgments are the courts' own published copies, provided for study; they are not certified copies. Source: Indian Supreme Court & High Court Judgments, Dattam Labs (CC-BY-4.0)