Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2000 (7) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2000 (7) TMI 15 - HC - Income TaxExtract: .......n is that the amount of forfeiture as well as amount received on encashment of the bank guarantee relate to trading activity and were thus assessable to tax being trading receipts. Our answer to both the questions, therefore, is in the negative, in favour of the Revenue and against the assessee. The reference application is disposed of accordingly.
|