https://www.taxtmi.com/caselaws?id=181058 Forfeited earnest money and security deposits received to secure contractual performance were treated as capital receipts at receipt, and section 28(iv) was held inapplicable because it covers non-monetary business benefits or perquisites, not cash receipts; the amounts were therefore not taxable. A claimed reimbursement for loss on imported PVC did not accrue as income because the correspondence and meeting minutes created no enforceable right to receive the full amount, the subsidy arrangement was only conditional and limited, and a unilateral book entry could not create income. The assessee was granted full relief on both issues. en-us Fri, 28 Feb 1986 00:00:00 +0530 Wed, 06 Apr 2016 15:09:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=181058 Forfeited earnest money and security deposits received to secure contractual performance were treated as capital receipts at receipt, and section 28(iv) was held inapplicable because it covers non-monetary business benefits or perquisites, not cash receipts; the amounts were therefore not taxable. A claimed reimbursement for loss on imported PVC did not accrue as income because the correspondence and meeting minutes created no enforceable right to receive the full amount, the subsidy arrangement was only conditional and limited, and a unilateral book entry could not create income. The assessee was granted full relief on both issues. Case-Laws Income Tax Fri, 28 Feb 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=181058