https://www.taxtmi.com/caselaws?id=252559 The Tribunal ruled in favor of the assessee, determining that the amount received from a family arrangement and Arbitral award was a capital receipt and not taxable under Sections 2(22)(e) or 56(2)(vi) of the Income Tax Act. Therefore, interest under Sections 234B and 234C, as well as the penalty under Section 221(1), were also dismissed. en-us Thu, 17 Jul 2014 00:00:00 +0530 Wed, 29 Oct 2014 07:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=252559 The Tribunal ruled in favor of the assessee, determining that the amount received from a family arrangement and Arbitral award was a capital receipt and not taxable under Sections 2(22)(e) or 56(2)(vi) of the Income Tax Act. Therefore, interest under Sections 234B and 234C, as well as the penalty under Section 221(1), were also dismissed. Case-Laws Income Tax Thu, 17 Jul 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=252559