TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Highlights
of of All Highlights
Note
Bookmark
Share
Don't have an account? Register Here
of ITAT determined the nature of receipts from relinquishment of trustship rights in Carmel Education Trust. After analyzing the income classification, the tribunal concluded that the amount does not fall under the first four heads of income and is consequently taxable under the residual head 'income from other sources' per Section 56. The Assessing Officer initially treated the receipt as unexplained income, but the ITAT definitively classified it as taxable under the income from other sources category. The appellate tribunal dismissed the assessee's appeals, affirming the taxability of the relinquishment proceeds as income from other sources.
TaxTMI 
TaxTMI 
