https://www.taxtmi.com/caselaws?id=25344 The High Court held that the Rs. 25,000 received by the assessee for assisting in the sale of shares and setting up a factory was exempt from tax under section 10(3) of the Income-tax Act, 1961. The Court determined that the receipt was a casual and non-recurring windfall, not arising from the assessee's business or profession. The payment was considered exempt from tax, and the Department was directed to pay the costs of the reference to the assessee. en-us Mon, 03 Aug 1987 00:00:00 +0530 Thu, 28 Jan 2010 10:46:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=25344 The High Court held that the Rs. 25,000 received by the assessee for assisting in the sale of shares and setting up a factory was exempt from tax under section 10(3) of the Income-tax Act, 1961. The Court determined that the receipt was a casual and non-recurring windfall, not arising from the assessee's business or profession. The payment was considered exempt from tax, and the Department was directed to pay the costs of the reference to the assessee. Case-Laws Income Tax Mon, 03 Aug 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=25344