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2002 (6) TMI 35 - MADRAS HIGH COURTCapital Or Revenue Receipt, Accrual - "1. Whether, on the facts and in the circumstances of the case, the Appellate Tribunal was right in holding the sum of Rs. 97,94,949 being the amount received under the arbitration award for the work done in connection with the feeder canals for the Farakka Barrage Project during the period from January 1, 1967 to September 30, 1969, was not a revenue receipt but only a capital receipt in the hands of the assessee, Shri J. H. Tarapore, and, therefore, exempt from tax? - 2. Whether, on the facts and in the circumstances of the case, the Appellate Tribunal was right in holding that the source being the work executed by the firm, the income accrued to the firm and that as it passed on to the assessee Shri J.H. Tarapore, in terms of settlement deed it can be only in application of income?" - "1. Whether, on the facts and in the circumstances of the case, the Tribunal is right in law in holding that a sum of Rs. 28,99,484 represents the income of the assessee? - 2. Whether, on the facts and in the circumstances of the case, the Tribunal is right in law in holding that the above receipts are revenue in nature and cannot be characterised as a windfall or casual receipt falling under section 10(3) of the Income-tax Act, 1961?"
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