https://www.taxtmi.com/caselaws?id=14892 The Tribunal held that the remission of Rs. 44.69 crores by Deutsche Bank to the respondent-company was on a capital account and not taxable under sections 41(1) or 28(iv) of the Act. The court emphasized the importance of distinguishing between capital and revenue receipts in determining tax liability, referencing previous judgments and legal provisions. The court directed the Tribunal to prepare a statement of the case and refer the question of law regarding the remission within three months, highlighting the necessity of accurately interpreting legal provisions for determining taxability. en-us Fri, 11 Feb 2000 00:00:00 +0530 Mon, 27 Jul 2009 10:15:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=14892 The Tribunal held that the remission of Rs. 44.69 crores by Deutsche Bank to the respondent-company was on a capital account and not taxable under sections 41(1) or 28(iv) of the Act. The court emphasized the importance of distinguishing between capital and revenue receipts in determining tax liability, referencing previous judgments and legal provisions. The court directed the Tribunal to prepare a statement of the case and refer the question of law regarding the remission within three months, highlighting the necessity of accurately interpreting legal provisions for determining taxability. Case-Laws Income Tax Fri, 11 Feb 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=14892