https://www.taxtmi.com/caselaws?id=389385 The court upheld the High Court's decision that the amount received by the appellant was a revenue receipt, not a capital receipt. The appellant's departure from the institution after new committee members were elected was crucial in determining this classification. The absence of evidence supporting a lifetime appointment as Secretary further supported this finding. The Assessing Officer's order was affirmed, and the appeal was dismissed without costs awarded. en-us Thu, 21 Nov 2019 00:00:00 +0530 Thu, 19 Dec 2019 17:37:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=389385 The court upheld the High Court's decision that the amount received by the appellant was a revenue receipt, not a capital receipt. The appellant's departure from the institution after new committee members were elected was crucial in determining this classification. The absence of evidence supporting a lifetime appointment as Secretary further supported this finding. The Assessing Officer's order was affirmed, and the appeal was dismissed without costs awarded. Case-Laws Income Tax Thu, 21 Nov 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=389385