https://www.taxtmi.com/caselaws?id=376377 The High Court upheld the Tribunal's decision, dismissing the appeal by the Revenue. The gain on cancellation of forwarding contracts was deemed a capital receipt as per Supreme Court precedents. The Assessing Officer's order was found not erroneous or prejudicial to revenue, as the gain was correctly treated as capital. The Court concluded no legal question arose, affirming the Tribunal's decision. en-us Wed, 27 Feb 2019 00:00:00 +0530 Thu, 07 Mar 2019 11:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=376377 The High Court upheld the Tribunal's decision, dismissing the appeal by the Revenue. The gain on cancellation of forwarding contracts was deemed a capital receipt as per Supreme Court precedents. The Assessing Officer's order was found not erroneous or prejudicial to revenue, as the gain was correctly treated as capital. The Court concluded no legal question arose, affirming the Tribunal's decision. Case-Laws Income Tax Wed, 27 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=376377