https://www.taxtmi.com/caselaws?id=7894 Foreign income genuinely capitalised into shares and securities held as capital assets loses its character as income when later realised on sale; the remittance of those sale proceeds into India is not taxable as brought-in profit under section 4(1)(b)(iii) of the Indian Income-tax Act, 1922. The investments were found to be longstanding, not temporary, and not a device for tax avoidance or disguised remittance. On that basis, the sale proceeds represented capital realisation rather than income, and the reference was answered in the negative. en-us Mon, 10 Mar 1969 00:00:00 +0530 Mon, 23 Mar 2009 17:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=7894 Foreign income genuinely capitalised into shares and securities held as capital assets loses its character as income when later realised on sale; the remittance of those sale proceeds into India is not taxable as brought-in profit under section 4(1)(b)(iii) of the Indian Income-tax Act, 1922. The investments were found to be longstanding, not temporary, and not a device for tax avoidance or disguised remittance. On that basis, the sale proceeds represented capital realisation rather than income, and the reference was answered in the negative. Case-Laws Income Tax Mon, 10 Mar 1969 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=7894