Commercial vehicle depreciation, scientifically determined warranty provisions and exempt-income disallowances were resolved in favour of the taxpayer...
Amount received on account of forfeiture of share application money by way of issue of share warrants - capital receipts OR revenue receipt - It is capital receipt and not revenue receipt as it was not earned from regular business activities carried on by the assessee - AT
Amount received on account of forfeiture of share application money by way of issue of share warrants - capital receipts OR revenue receipt - It is capital receipt and not revenue receipt as it was not earned from regular business activities carried on by the assessee - AT
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
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