https://www.taxtmi.com/caselaws?id=25952 The Tribunal upheld the classification of a sum of Rs. 2.5 lakhs as a capital receipt rather than a revenue receipt, emphasizing the Revenue's failure to provide evidence supporting its contrary claim. The Tribunal also rightly refused the Department's belated attempt to introduce an alternative ground on capital gains, in line with established precedents. The decision favored the assessee, directing each party to bear their own costs, highlighting the significance of evidence and timely presentation of legal grounds in such matters. en-us Wed, 21 Sep 1983 00:00:00 +0530 Mon, 01 Feb 2010 18:26:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=25952 The Tribunal upheld the classification of a sum of Rs. 2.5 lakhs as a capital receipt rather than a revenue receipt, emphasizing the Revenue's failure to provide evidence supporting its contrary claim. The Tribunal also rightly refused the Department's belated attempt to introduce an alternative ground on capital gains, in line with established precedents. The decision favored the assessee, directing each party to bear their own costs, highlighting the significance of evidence and timely presentation of legal grounds in such matters. Case-Laws Income Tax Wed, 21 Sep 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=25952