https://www.taxtmi.com/caselaws?id=12469 The amounts of Rs. 97,94,949 and Rs. 28,99,484 received under an arbitration award were held to be revenue receipts and taxable. The High Court determined that both sums were directly related to the business activities of the assessee and not classified as capital receipts or windfalls. The Court's decision favored the Revenue, concluding that the amounts were taxable income of the assessee under the Income-tax Act, 1961. en-us Mon, 24 Jun 2002 00:00:00 +0530 Thu, 25 Feb 2010 15:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=12469 The amounts of Rs. 97,94,949 and Rs. 28,99,484 received under an arbitration award were held to be revenue receipts and taxable. The High Court determined that both sums were directly related to the business activities of the assessee and not classified as capital receipts or windfalls. The Court's decision favored the Revenue, concluding that the amounts were taxable income of the assessee under the Income-tax Act, 1961. Case-Laws Income Tax Mon, 24 Jun 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=12469