https://www.taxtmi.com/caselaws?id=26591 The court held that the receipts in question were taxable as revenue receipts, as they were directly connected to the trading activity and not exempt under section 10(3) of the Income-tax Act, 1961. The court rejected the claim that the excess amount was capital accretion, emphasizing that it was a revenue receipt arising from business transactions. The decision was made against the assessee, with no order as to costs. en-us Tue, 18 Feb 1986 00:00:00 +0530 Sat, 06 Feb 2010 12:08:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=26591 The court held that the receipts in question were taxable as revenue receipts, as they were directly connected to the trading activity and not exempt under section 10(3) of the Income-tax Act, 1961. The court rejected the claim that the excess amount was capital accretion, emphasizing that it was a revenue receipt arising from business transactions. The decision was made against the assessee, with no order as to costs. Case-Laws Income Tax Tue, 18 Feb 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=26591