https://www.taxtmi.com/caselaws?id=29204 The court held that the sums of Rs. 30,000 and Rs. 20,000 received by the assessee were capital receipts and not taxable as business income. The court determined that the amounts were in consideration for surrendering a capital asset, not related to business profits or salary. Citing relevant precedents, the court concluded in favor of the assessee, awarding costs to the assessee. en-us Thu, 15 Sep 1977 00:00:00 +0530 Thu, 11 Mar 2010 13:47:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=29204 The court held that the sums of Rs. 30,000 and Rs. 20,000 received by the assessee were capital receipts and not taxable as business income. The court determined that the amounts were in consideration for surrendering a capital asset, not related to business profits or salary. Citing relevant precedents, the court concluded in favor of the assessee, awarding costs to the assessee. Case-Laws Income Tax Thu, 15 Sep 1977 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=29204