https://www.taxtmi.com/caselaws?id=180888 The court dismissed the appeal, determining that the amount of Rs. 29,11,000 received by the appellant is taxable under section 2(24) of the Income-tax Act. It classified the amount as "income from other sources" rather than "income from long-term capital gain." The court found that the payment was made to indemnify against future claims and not for acquiring or relinquishing any property rights. The findings of the lower authorities were upheld, as the appellant did not present any substantial question of law. en-us Tue, 29 Jul 2008 00:00:00 +0530 Sun, 10 Dec 2023 16:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=180888 The court dismissed the appeal, determining that the amount of Rs. 29,11,000 received by the appellant is taxable under section 2(24) of the Income-tax Act. It classified the amount as "income from other sources" rather than "income from long-term capital gain." The court found that the payment was made to indemnify against future claims and not for acquiring or relinquishing any property rights. The findings of the lower authorities were upheld, as the appellant did not present any substantial question of law. Case-Laws Income Tax Tue, 29 Jul 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=180888