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of The ITAT upheld the FAA's determination that amounts received on sale of MEIS/MLFPS scrips constituted capital receipts, applying the amended definition in section 2(24)(xviii) and relevant judicial precedents; it confirmed the FAA's conclusion that such receipt is not taxable as revenue and cannot be adjusted under section 143(1) for the assessment year in question. Noting that Revenue did not challenge the FAA's non-adjustment finding, the Tribunal found no merit in the Department's appeal and dismissed the appeal. The ITAT therefore affirmed the FAA's order as legally correct and in accordance with law.
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