https://www.taxtmi.com/caselaws?id=14760 A sum received by the assessee was treated as a share in reserve held before bifurcation, not as taxable income, because the Tribunal's finding was based on the record and was neither shown to be illegal nor perverse. On that factual basis, the Revenue's challenge did not raise any question of law. The amount was therefore treated as a non-taxable capital receipt, and the reference was decided in favour of the assessee. en-us Tue, 23 May 2000 00:00:00 +0530 Sat, 18 Jul 2009 15:06:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=14760 A sum received by the assessee was treated as a share in reserve held before bifurcation, not as taxable income, because the Tribunal's finding was based on the record and was neither shown to be illegal nor perverse. On that factual basis, the Revenue's challenge did not raise any question of law. The amount was therefore treated as a non-taxable capital receipt, and the reference was decided in favour of the assessee. Case-Laws Income Tax Tue, 23 May 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=14760