https://www.taxtmi.com/caselaws?id=35976 The court upheld the inclusion of royalty charges in the taxable income of the assessee-firm for the assessment year 1971-72. The decision was based on the principle that the true nature of the receipt determines its treatment as income, regardless of how it is recorded in account books. The assessee's application for rectification of the order and a subsequent mandamus to refer a question to the Tribunal were dismissed. The court emphasized adherence to the Supreme Court precedent in determining taxable income, leading to the affirmation of the inclusion of royalty charges in the assessee's taxable income. en-us Thu, 05 Feb 1981 00:00:00 +0530 Thu, 18 Mar 2010 12:28:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=35976 The court upheld the inclusion of royalty charges in the taxable income of the assessee-firm for the assessment year 1971-72. The decision was based on the principle that the true nature of the receipt determines its treatment as income, regardless of how it is recorded in account books. The assessee's application for rectification of the order and a subsequent mandamus to refer a question to the Tribunal were dismissed. The court emphasized adherence to the Supreme Court precedent in determining taxable income, leading to the affirmation of the inclusion of royalty charges in the assessee's taxable income. Case-Laws Income Tax Thu, 05 Feb 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=35976