https://www.taxtmi.com/caselaws?id=429106 The Supreme Court upheld the findings of the assessing officer and the High Court in a case regarding a Memorandum of Understanding for land acquisition and construction. The appellant collected funds from society members, transferred to a developer, and later received a refund due to legal issues. The Court held that the refunded amount of Rs. 29,11,000 was taxable as income from other sources, without delving into business income classification. The appeal was dismissed without costs, emphasizing the taxability of the amount received. en-us Tue, 30 Aug 2022 00:00:00 +0530 Wed, 10 Jun 2026 10:37:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=429106 The Supreme Court upheld the findings of the assessing officer and the High Court in a case regarding a Memorandum of Understanding for land acquisition and construction. The appellant collected funds from society members, transferred to a developer, and later received a refund due to legal issues. The Court held that the refunded amount of Rs. 29,11,000 was taxable as income from other sources, without delving into business income classification. The appeal was dismissed without costs, emphasizing the taxability of the amount received. Case-Laws Income Tax Tue, 30 Aug 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=429106