https://www.taxtmi.com/caselaws?id=35794 Forfeited security deposits arising from business contracts with suppliers, purchasers and employees were treated as revenue receipts because the amounts were generated in the course of trading and employment arrangements and were not capital in nature. The commentary also notes that liquidated damages recovered from employees followed the same characterisation as business income. On procedural powers, the Tribunal's appellate jurisdiction under section 254, read with rules 11 and 29, is described as wide enough to admit an additional ground or evidence where needed to do substantial justice, and a mere earlier omission to raise the point was not enough to refuse admission. en-us Mon, 27 Oct 1980 00:00:00 +0530 Tue, 16 Mar 2010 16:45:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=35794 Forfeited security deposits arising from business contracts with suppliers, purchasers and employees were treated as revenue receipts because the amounts were generated in the course of trading and employment arrangements and were not capital in nature. The commentary also notes that liquidated damages recovered from employees followed the same characterisation as business income. On procedural powers, the Tribunal's appellate jurisdiction under section 254, read with rules 11 and 29, is described as wide enough to admit an additional ground or evidence where needed to do substantial justice, and a mere earlier omission to raise the point was not enough to refuse admission. Case-Laws Income Tax Mon, 27 Oct 1980 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=35794