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1965 (10) TMI 19 - SC - Income TaxWhether the sum of ₹ 16,309/Rs. 39,515 received by the assessee from the syndicate is 'income' for the purpose of the Indian Income-tax Act, 1922 ? If the answer to the above question is in the affirmative, whether the income-receipt is exempt under section 4(3)(vii) of the Act by reason of its being of a casual and non-recurring nature ? Held that:- The appellant has received certain amount under a contract with the syndicate, and if that amount was income, the fact that the person who paid it may claim refund will not deprive it of its character of income in the year in which it was received. The contention that this income was of a " casual and non-recurring nature " was abandoned before the Tribunal. It cannot be said that the receipt was produced by chance or was accidental, fortuitous or from unforeseen sources of income. Assuming that the amounts sought to be included as income were paid as a result of some mistake on the part of the syndicate, they have not the characteristic of casualness, nor is it suggested that they are non-recurring. Appeals dismissed
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