https://www.taxtmi.com/caselaws?id=341796 The Tribunal partially allowed the appeal, concluding that the mesne profits were capital receipts and not taxable as revenue income. The decision was based on the distinction between revenue and capital receipts, with reference to legal precedents and the Special Bench's ruling in Narang Overseas (P) Ltd. The appellant's arguments, supported by case laws like Pal Properties (P) Ltd., were pivotal in establishing that the mesne profits should be treated as capital receipts, leading to the favorable outcome for the appellant. en-us Wed, 15 Mar 2017 00:00:00 +0530 Mon, 17 Apr 2017 09:01:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=341796 The Tribunal partially allowed the appeal, concluding that the mesne profits were capital receipts and not taxable as revenue income. The decision was based on the distinction between revenue and capital receipts, with reference to legal precedents and the Special Bench's ruling in Narang Overseas (P) Ltd. The appellant's arguments, supported by case laws like Pal Properties (P) Ltd., were pivotal in establishing that the mesne profits should be treated as capital receipts, leading to the favorable outcome for the appellant. Case-Laws Income Tax Wed, 15 Mar 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=341796