https://www.taxtmi.com/caselaws?id=290025 A contingent payment received under an agreement securing repayment of a loan, where no proprietary interest was acquired and no business of buying and selling existed, qualifies as a casual, non recurring receipt rather than business income or other assessable income; consequently it is not taxable under the Income tax Act, 1922. Separately, the statutory fee paid with a reference application falls within the costs and incidental matters deposited as security for the reference and, in the court's discretion, is refundable to the applicant. en-us Mon, 03 Jul 1933 00:00:00 +0530 Sat, 05 Sep 2020 10:22:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=290025 A contingent payment received under an agreement securing repayment of a loan, where no proprietary interest was acquired and no business of buying and selling existed, qualifies as a casual, non recurring receipt rather than business income or other assessable income; consequently it is not taxable under the Income tax Act, 1922. Separately, the statutory fee paid with a reference application falls within the costs and incidental matters deposited as security for the reference and, in the court's discretion, is refundable to the applicant. Case-Laws Income Tax Mon, 03 Jul 1933 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=290025