https://www.taxtmi.com/caselaws?id=12380 The court affirmed the Tribunal's decision, holding that amounts received by the assessee from Coca-Cola Export Corporation were taxable as income under section 41(2) of the Income-tax Act. The court found the payments directly related to the destruction of business assets (bottles) and met all conditions for section 41(2) applicability. The court ruled in favor of the Revenue, confirming taxability of the compensation for the destroyed Coca-Cola and Fanta bottles. en-us Tue, 28 May 2002 00:00:00 +0530 Tue, 23 Feb 2010 15:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=12380 The court affirmed the Tribunal's decision, holding that amounts received by the assessee from Coca-Cola Export Corporation were taxable as income under section 41(2) of the Income-tax Act. The court found the payments directly related to the destruction of business assets (bottles) and met all conditions for section 41(2) applicability. The court ruled in favor of the Revenue, confirming taxability of the compensation for the destroyed Coca-Cola and Fanta bottles. Case-Laws Income Tax Tue, 28 May 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=12380