https://www.taxtmi.com/caselaws?id=62812 A transferable import entitlement earned under an export promotion scheme was treated as a business-linked receipt because it arose directly from export activity and was sold for consideration. The Tribunal held that the right was not a bounty or gift, and its self-generated character or lack of separate cost of acquisition did not convert the sale proceeds into a capital receipt. The amount was therefore includible as business income under section 28(i) of the Income-tax Act, 1961, while the separate question under section 28(iv) was not decided. en-us Fri, 30 Nov 1984 00:00:00 +0530 Fri, 21 Jan 2011 18:39:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=62812 A transferable import entitlement earned under an export promotion scheme was treated as a business-linked receipt because it arose directly from export activity and was sold for consideration. The Tribunal held that the right was not a bounty or gift, and its self-generated character or lack of separate cost of acquisition did not convert the sale proceeds into a capital receipt. The amount was therefore includible as business income under section 28(i) of the Income-tax Act, 1961, while the separate question under section 28(iv) was not decided. Case-Laws Income Tax Fri, 30 Nov 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=62812