https://www.taxtmi.com/caselaws?id=202466 The High Court held that the amount received by the assessee for relinquishing honorary positions should be classified as "income from other sources" and not as a capital receipt. The court emphasized the absence of a transfer of capital asset and the lack of monetary loss from relinquishing the positions. The decision overturned the Tribunal's ruling, with the appeal being allowed in favor of the Revenue. en-us Wed, 12 Aug 2009 00:00:00 +0530 Wed, 26 Dec 2012 11:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=202466 The High Court held that the amount received by the assessee for relinquishing honorary positions should be classified as "income from other sources" and not as a capital receipt. The court emphasized the absence of a transfer of capital asset and the lack of monetary loss from relinquishing the positions. The decision overturned the Tribunal's ruling, with the appeal being allowed in favor of the Revenue. Case-Laws Income Tax Wed, 12 Aug 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=202466