https://www.taxtmi.com/caselaws?id=26725 Receipts under a privy purse arrangement were held not to constitute taxable income under the Income-tax Act, 1961, where the High Court followed its earlier decision on an identical reference and found no contrary Supreme Court or binding High Court authority. The Court accordingly treated the prior ruling as governing and concluded that the amounts received by the assessee were not liable to tax. The reference was answered in favour of the assessee and against the Revenue. en-us Wed, 20 Nov 1985 00:00:00 +0530 Mon, 08 Feb 2010 10:54:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=26725 Receipts under a privy purse arrangement were held not to constitute taxable income under the Income-tax Act, 1961, where the High Court followed its earlier decision on an identical reference and found no contrary Supreme Court or binding High Court authority. The Court accordingly treated the prior ruling as governing and concluded that the amounts received by the assessee were not liable to tax. The reference was answered in favour of the assessee and against the Revenue. Case-Laws Income Tax Wed, 20 Nov 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=26725