https://www.taxtmi.com/caselaws?id=404225 The Tribunal held that the option price received by the assessee is a capital receipt to be adjusted at the time of transfer of shares and not taxable in the year of receipt. The joint-venture agreement is a shareholder agreement, and the principle of consistency applies, maintaining the treatment of option price as a capital receipt. The decision in Mahindra Telecommunications was found to be inapplicable to the present case. The appeal of the assessee was partly allowed. en-us Thu, 11 Feb 2021 00:00:00 +0530 Fri, 19 Feb 2021 16:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=404225 The Tribunal held that the option price received by the assessee is a capital receipt to be adjusted at the time of transfer of shares and not taxable in the year of receipt. The joint-venture agreement is a shareholder agreement, and the principle of consistency applies, maintaining the treatment of option price as a capital receipt. The decision in Mahindra Telecommunications was found to be inapplicable to the present case. The appeal of the assessee was partly allowed. Case-Laws Income Tax Thu, 11 Feb 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=404225