https://www.taxtmi.com/highlights?id=73053 Validity of the reassessment proceedings - Nature of receipt as arbitration award - The Tribunal interestingly holds that it is judicially settled that the amount should be considered as special income and it must be considered in its wider sense. The Tribunal failed to appreciate that a receipt on capital account cannot be assessed as income unless it was specifically brought within the scope of the definition of the term “income” in Section 2(24) - HC en-us Thu, 16 Nov 2023 08:36:46 +0530 Thu, 16 Nov 2023 08:36:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=73053 Validity of the reassessment proceedings - Nature of receipt as arbitration award - The Tribunal interestingly holds that it is judicially settled that the amount should be considered as special income and it must be considered in its wider sense. The Tribunal failed to appreciate that a receipt on capital account cannot be assessed as income unless it was specifically brought within the scope of the definition of the term “income” in Section 2(24) - HC Highlights Income Tax Thu, 16 Nov 2023 08:36:46 +0530 https://www.taxtmi.com/highlights?id=73053