https://www.taxtmi.com/caselaws?id=183291 An unsolicited share receipt may still be taxable as income when it arises from professional assistance or the exercise of a vocation, even though it is not salary-related and does not fall within the employment-based charging provision. A voluntary transfer of funds to a taxation reserve account does not create a capital loss unless there is a statutory transfer of a capital asset and a loss sustained in law; on that basis, set-off against capital gains and carry-forward were unavailable. The claimed carry-forward also failed because it depended on the existence of a recognised capital loss. en-us Wed, 25 Jan 1956 00:00:00 +0530 Fri, 03 Jun 2016 18:23:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=183291 An unsolicited share receipt may still be taxable as income when it arises from professional assistance or the exercise of a vocation, even though it is not salary-related and does not fall within the employment-based charging provision. A voluntary transfer of funds to a taxation reserve account does not create a capital loss unless there is a statutory transfer of a capital asset and a loss sustained in law; on that basis, set-off against capital gains and carry-forward were unavailable. The claimed carry-forward also failed because it depended on the existence of a recognised capital loss. Case-Laws Income Tax Wed, 25 Jan 1956 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=183291