https://www.taxtmi.com/caselaws?id=27609 The court ruled in favor of the assessee, determining that the premium on the issue of shares was not a revenue receipt but a capital payment. The court considered the premium akin to a capital asset, in line with the provisions of the Companies Act, 1956. The Tribunal's decision was upheld, rejecting the Revenue's argument that the premium should be treated as a revenue receipt. No costs were awarded in the case. en-us Thu, 01 Sep 1983 00:00:00 +0530 Mon, 15 Feb 2010 10:17:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=27609 The court ruled in favor of the assessee, determining that the premium on the issue of shares was not a revenue receipt but a capital payment. The court considered the premium akin to a capital asset, in line with the provisions of the Companies Act, 1956. The Tribunal's decision was upheld, rejecting the Revenue's argument that the premium should be treated as a revenue receipt. No costs were awarded in the case. Case-Laws Income Tax Thu, 01 Sep 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=27609