https://www.taxtmi.com/caselaws?id=327138 The High Court held that the receipt of Rs. 20,00,000 by the Assessees was not taxable as a casual and non-recurring receipt under Section 10(3) of the Income Tax Act. The Court emphasized that the amount received was consequent upon a Supreme Court order and did not constitute interest on auction sale consideration. Relying on precedents, the Court concluded that a capital receipt not taxable under Section 45 cannot be taxed under any other provision, including Section 10(3). The orders of the lower authorities were set aside, and the appeals were allowed in favor of the Assessees. en-us Thu, 28 Apr 2016 00:00:00 +0530 Tue, 07 Jun 2016 16:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=327138 The High Court held that the receipt of Rs. 20,00,000 by the Assessees was not taxable as a casual and non-recurring receipt under Section 10(3) of the Income Tax Act. The Court emphasized that the amount received was consequent upon a Supreme Court order and did not constitute interest on auction sale consideration. Relying on precedents, the Court concluded that a capital receipt not taxable under Section 45 cannot be taxed under any other provision, including Section 10(3). The orders of the lower authorities were set aside, and the appeals were allowed in favor of the Assessees. Case-Laws Income Tax Thu, 28 Apr 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=327138