https://www.taxtmi.com/caselaws?id=69216 The Tribunal allowed the appeal, determining that the payment of Rs. 50,000 in shares was a capital receipt and not taxable. The reassessment proceedings were upheld as valid, but the nature of the receipt was classified as capital, exempt from taxation. The decision relied on the transaction's substance and legal precedents distinguishing between capital and revenue receipts. en-us Sat, 31 Dec 1977 00:00:00 +0530 Tue, 05 Apr 2011 17:46:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=69216 The Tribunal allowed the appeal, determining that the payment of Rs. 50,000 in shares was a capital receipt and not taxable. The reassessment proceedings were upheld as valid, but the nature of the receipt was classified as capital, exempt from taxation. The decision relied on the transaction's substance and legal precedents distinguishing between capital and revenue receipts. Case-Laws Income Tax Sat, 31 Dec 1977 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=69216