https://www.taxtmi.com/caselaws?id=758891 Consideration received for relinquishing trusteeship is discussed as taxable individual income rather than a capital receipt, and not as proceeds assessable under capital gains. The text states that where trustees resign or relinquish their position for consideration, the amount received is attributable to the individuals personally and must be assessed under the appropriate head of income. It also notes that the Tribunal's contrary view was set aside and the matter was remanded for fresh consideration in light of this principle. en-us Fri, 13 Sep 2024 00:00:00 +0530 Thu, 30 Apr 2026 15:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=758891 Consideration received for relinquishing trusteeship is discussed as taxable individual income rather than a capital receipt, and not as proceeds assessable under capital gains. The text states that where trustees resign or relinquish their position for consideration, the amount received is attributable to the individuals personally and must be assessed under the appropriate head of income. It also notes that the Tribunal's contrary view was set aside and the matter was remanded for fresh consideration in light of this principle. Case-Laws Income Tax Fri, 13 Sep 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=758891