https://www.taxtmi.com/caselaws?id=340317 The Tribunal dismissed both appeals by the Revenue, affirming the CIT(A)'s decisions that the amounts in question were capital receipts related to share capital and not taxable as business income under Sections 41(1) or 28(iv) of the Income Tax Act. The Tribunal emphasized adherence to legal principles and the nature of receipts for taxability, regardless of the assessee's statements or offers. en-us Wed, 08 Mar 2017 00:00:00 +0530 Wed, 10 May 2017 17:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=340317 The Tribunal dismissed both appeals by the Revenue, affirming the CIT(A)'s decisions that the amounts in question were capital receipts related to share capital and not taxable as business income under Sections 41(1) or 28(iv) of the Income Tax Act. The Tribunal emphasized adherence to legal principles and the nature of receipts for taxability, regardless of the assessee's statements or offers. Case-Laws Income Tax Wed, 08 Mar 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=340317