https://www.taxtmi.com/caselaws?id=297325 The Tribunal allowed the appeal of the State owned Transport Corporation, holding that the undisbursed amount of Rs. 7.29 crores received for terminal benefits was not a trading receipt but was specifically provided by the Government for employee benefits. The Tribunal overturned the CIT(A)'s decision, emphasizing that the funds were later adjusted for student concession subsidy, thereby setting aside the addition made by the Assessing Officer under section 143(1) and allowing the appeal of the assessee. en-us Tue, 25 Sep 2012 00:00:00 +0530 Fri, 27 Aug 2021 16:26:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=297325 The Tribunal allowed the appeal of the State owned Transport Corporation, holding that the undisbursed amount of Rs. 7.29 crores received for terminal benefits was not a trading receipt but was specifically provided by the Government for employee benefits. The Tribunal overturned the CIT(A)'s decision, emphasizing that the funds were later adjusted for student concession subsidy, thereby setting aside the addition made by the Assessing Officer under section 143(1) and allowing the appeal of the assessee. Case-Laws Income Tax Tue, 25 Sep 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=297325