https://www.taxtmi.com/caselaws?id=26727 The High Court held that the sums of Rs. 75,000 and Rs. 50,000 received by the assessee should be treated as income from "other sources" and are taxable, reversing the Tribunal's decision. However, the Court affirmed the Tribunal's decision that the assessee was a company in which the public were substantially interested. The case outcome favored the Revenue regarding the tax treatment of the sums received but favored the assessee regarding the company's substantial interest status. en-us Thu, 22 Aug 1985 00:00:00 +0530 Mon, 08 Feb 2010 11:01:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=26727 The High Court held that the sums of Rs. 75,000 and Rs. 50,000 received by the assessee should be treated as income from "other sources" and are taxable, reversing the Tribunal's decision. However, the Court affirmed the Tribunal's decision that the assessee was a company in which the public were substantially interested. The case outcome favored the Revenue regarding the tax treatment of the sums received but favored the assessee regarding the company's substantial interest status. Case-Laws Income Tax Thu, 22 Aug 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=26727