https://www.taxtmi.com/caselaws?id=36622 The court held that the receipt of Rs. 1,87,870 by the assessee firm constituted taxable income arising from business activities rather than a windfall. The amount, received due to a contractual agreement following currency devaluation, was found to be a legitimate part of the business transaction with a Russian party for the sale of pepper. The court dismissed the appeal, affirming that the sum was a trading receipt and taxable as income derived in the course of business. en-us Mon, 07 Apr 1980 00:00:00 +0530 Tue, 23 Mar 2010 15:04:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=36622 The court held that the receipt of Rs. 1,87,870 by the assessee firm constituted taxable income arising from business activities rather than a windfall. The amount, received due to a contractual agreement following currency devaluation, was found to be a legitimate part of the business transaction with a Russian party for the sale of pepper. The court dismissed the appeal, affirming that the sum was a trading receipt and taxable as income derived in the course of business. Case-Laws Income Tax Mon, 07 Apr 1980 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=36622