https://www.taxtmi.com/caselaws?id=346278 The Tribunal upheld the CIT(A)'s decision, dismissing the revenue's appeal. It affirmed that the share premium received was a capital receipt, not taxable as revenue income. The Tribunal concurred with the CIT(A)'s findings that the excess amount on the sale of shares was a capital receipt, not income from other sources. Additionally, the Tribunal agreed with the CIT(A) that the sale of shares did not qualify as a slump sale under Section 50B. The appeal grounds raised by the revenue were all dismissed by the Tribunal. en-us Thu, 27 Apr 2017 00:00:00 +0530 Tue, 08 Aug 2017 07:37:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=346278 The Tribunal upheld the CIT(A)'s decision, dismissing the revenue's appeal. It affirmed that the share premium received was a capital receipt, not taxable as revenue income. The Tribunal concurred with the CIT(A)'s findings that the excess amount on the sale of shares was a capital receipt, not income from other sources. Additionally, the Tribunal agreed with the CIT(A) that the sale of shares did not qualify as a slump sale under Section 50B. The appeal grounds raised by the revenue were all dismissed by the Tribunal. Case-Laws Income Tax Thu, 27 Apr 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=346278