https://www.taxtmi.com/caselaws?id=184460 The High Court upheld the tribunal's decision to classify the additional quota of free sale of sugar as a capital receipt, considering it part of a loan repayment scheme for expanding the industrial undertaking. The Court dismissed the appeal, concluding that the receipt in question constituted a capital receipt. Additionally, the Court upheld the disallowance made by the Assessing Officer under rule 6B of Rs. 17,556, citing previous judgments and finding no grounds to challenge their applicability. Consequently, the appeal on this issue was also dismissed. en-us Tue, 24 Mar 2009 00:00:00 +0530 Sat, 09 Jul 2016 11:28:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=184460 The High Court upheld the tribunal's decision to classify the additional quota of free sale of sugar as a capital receipt, considering it part of a loan repayment scheme for expanding the industrial undertaking. The Court dismissed the appeal, concluding that the receipt in question constituted a capital receipt. Additionally, the Court upheld the disallowance made by the Assessing Officer under rule 6B of Rs. 17,556, citing previous judgments and finding no grounds to challenge their applicability. Consequently, the appeal on this issue was also dismissed. Case-Laws Income Tax Tue, 24 Mar 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=184460