https://www.taxtmi.com/caselaws?id=2982 The court classified the sum received by the Assessee as a revenue receipt rather than a capital receipt. It determined that only Rs.1,24,000 was taxable in the Assessment Year 1975-76, as taxing the entire sum would result in double taxation. The court held that the sums received in subsequent years were also revenue receipts and correctly offered for taxation. The court ruled in favor of the Revenue regarding taxability, disposing of the reference petitions accordingly. en-us Mon, 29 Oct 2007 00:00:00 +0530 Wed, 30 Jul 2008 12:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=2982 The court classified the sum received by the Assessee as a revenue receipt rather than a capital receipt. It determined that only Rs.1,24,000 was taxable in the Assessment Year 1975-76, as taxing the entire sum would result in double taxation. The court held that the sums received in subsequent years were also revenue receipts and correctly offered for taxation. The court ruled in favor of the Revenue regarding taxability, disposing of the reference petitions accordingly. Case-Laws Income Tax Mon, 29 Oct 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=2982