$~1 to 5 * IN THE HIGH COURT OF DELHI AT NEW DELHI + ITA 730/2025 + ITA 733/2025 + ITA 734/2025 GUJARAT GUARDIAN LTD .....Appellant Through: Mr. Ajay Vohra, Sr. Adv. with Mr.

Neeraj Jain, Mr. Aniket D. Agrawal, Mr. Kunal Panday and Mr. Samarth Chaudhari, Advs.

versus DEPUTY COMMISSIONER OF INCOME TAX .....Respondent Through: Mr. Shlok Chandra, SSC Ms. Naincy Jain, Ms. Madhvi Shukla, JSCs with Mr. Udit Dad, Adv.

CORAM:

HON'BLE MR. JUSTICE V. KAMESWAR RAO HON'BLE MR. JUSTICE SAURABH BANERJEE

O R D E R

% 10.12.2025

1. Admit.

2. The following substantial questions of law are framed in these appeals.

For Assessment Year 2002-03 [ITA No. 669/2025]

1. Whether in the facts and circumstances of the case, the Tribunal erred in law in holding that the appellant- assessee was not entitled in law to raise the claim relating to treatment of the amount received as sales tax subsidy/incentive in the course of proceedings under section 147/148 of the Act?

2. Whether in the facts and circumstances of the case, the Tribunal erred in holding that the sales tax subsidy/incentive received/availed by the appellant- assessee under the ‘Special Incentives for Pioneer Units, 1986 Scheme’ read with the ‘Composite Sales Tax Incentive Scheme, 1987 for Pioneer Units’ offered by the State Government of Gujarat, are not in the nature of non-

taxable capital but revenue receipt chargeable to tax?

For all other Assessment Years [i.e.,AYs 2003-04 (ITA No.733 of 2025), 2004-05 (ITA No. 730 of 2025), 2005-06 (ITA No. 734 of 2025) & 2006-07 (ITA No. 729 of 2025)

1. Whether in the facts and circumstances of the case, the Tribunal erred in holding that the sales tax subsidy/incentive received/availed by the appellant- assessee under the ‘Special Incentives for Pioneeer Units, 1986 Scheme’ read with the ‘Composite Sales Tax Incentive Scheme, 1987 for Pioneer Units’ offered by the State Government of Gujarat, are not in the nature of non-taxable capital but revenue chargeable to tax?

3. Learned counsel for the parties shall file written synopsis not exceeding five pages, giving a chronological list of dates and events and relevant documents, if any, along with duly highlighted judgments setting out the proposition of law therein, they wish to rely upon within the period of eight weeks from today.

4. Renotify on 09.04.2026.

V. KAMESWAR RAO, J SAURABH BANERJEE, J DECEMBER 10, 2025 cd