Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 1966 (9) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
1966 (9) TMI 18 - HC - Income TaxPayment was made to compensate a person for cancellation of a contract - not affect the trading structure of the assessee`s business - termination of the contract was normal incident of the business and that such cancellation left the assessee free to carry on his trade freed from the contract terminated - so it was a revenue recipt - assessable to tax
|