https://www.taxtmi.com/caselaws?id=29016 The court held that the sum of Rs. 24 lakhs received by the assessee from Premier Automobiles Ltd. was a capital receipt, not a revenue receipt. The court did not address the alternative contention on assessing capital gains due to procedural issues. The Revenue was directed to pay the costs of the reference to the assessee. en-us Fri, 04 Sep 1981 00:00:00 +0530 Wed, 10 Mar 2010 12:10:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=29016 The court held that the sum of Rs. 24 lakhs received by the assessee from Premier Automobiles Ltd. was a capital receipt, not a revenue receipt. The court did not address the alternative contention on assessing capital gains due to procedural issues. The Revenue was directed to pay the costs of the reference to the assessee. Case-Laws Income Tax Fri, 04 Sep 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=29016