https://www.taxtmi.com/caselaws?id=29282 The High Court declined to provide a definitive answer on whether the forfeited amount was assessable income, as the Tribunal did not conclusively determine this. The Court stated that if the forfeited amount was deemed a gain, it would be assessable in a later assessment year. As the Tribunal did not make a firm decision on this matter, the High Court found it unnecessary to address the question, deeming any response as purely academic. The Court declined to intervene further, emphasizing that the Tribunal's ambiguity on this issue precluded a definitive judgment. en-us Thu, 04 Jun 1981 00:00:00 +0530 Thu, 11 Mar 2010 18:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=29282 The High Court declined to provide a definitive answer on whether the forfeited amount was assessable income, as the Tribunal did not conclusively determine this. The Court stated that if the forfeited amount was deemed a gain, it would be assessable in a later assessment year. As the Tribunal did not make a firm decision on this matter, the High Court found it unnecessary to address the question, deeming any response as purely academic. The Court declined to intervene further, emphasizing that the Tribunal's ambiguity on this issue precluded a definitive judgment. Case-Laws Income Tax Thu, 04 Jun 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=29282