Court Rules Receipt Non-Taxable Under Income Tax Act Section 10(3) & 56; Revenue's Claims Rejected as Unsupported.

Amount received covered u/s 10(3) - Revenue has been unable to make out a case for treating the said receipt as of a casual and non-recurring nature that could be brought to tax u/s 10(3) r.w.s 56 - Having held that it could not be in the nature of capital gain it was not open to the Revenue to seek to bring it to a tax under the revenue receipt - HC .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X